UnitedHealth Group reported an increase in profit and increased its guidance for the year while it still felt the impacts from pulling out of Affordable Care Act markets.
The company reported adjusted net earnings of $2.6 billion, or $2.66 a share, compared with $2.1 billion this time last year. Revenue rose 8.7% to $50.3 billion, but consolidated revenue took a $1.6 billion-dollar hit because of the ACA tax deferral and as a result of the company pulling out of ACA markets.
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The net margin expanded 6 basis points to 4.9%.
UnitedHealth said for the year it is predicting adjusted net earnings will "approach" $10 a share. Last quarter, it was predicting between $9.75 and $9.90 for the year.
Shares were flat in premarket trading. They are up 20.72% year to date.
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(END) Dow Jones Newswires
October 17, 2017 07:25 ET (11:25 GMT)