Advertisement
UK markets closed
  • FTSE 100

    8,366.39
    -50.06 (-0.59%)
     
  • FTSE 250

    20,706.17
    -77.20 (-0.37%)
     
  • AIM

    804.15
    -2.94 (-0.36%)
     
  • GBP/EUR

    1.1744
    +0.0038 (+0.33%)
     
  • GBP/USD

    1.2730
    +0.0018 (+0.14%)
     
  • Bitcoin GBP

    55,162.34
    -70.62 (-0.13%)
     
  • CMC Crypto 200

    1,515.56
    -10.85 (-0.71%)
     
  • S&P 500

    5,319.26
    -2.15 (-0.04%)
     
  • DOW

    39,809.15
    -63.84 (-0.16%)
     
  • CRUDE OIL

    78.26
    -0.40 (-0.51%)
     
  • GOLD FUTURES

    2,393.40
    -32.50 (-1.34%)
     
  • NIKKEI 225

    38,617.10
    -329.83 (-0.85%)
     
  • HANG SENG

    19,195.60
    -25.02 (-0.13%)
     
  • DAX

    18,684.79
    -41.97 (-0.22%)
     
  • CAC 40

    8,091.34
    -50.12 (-0.62%)
     

UnitedHealth Group stock pops on Q1 revenue beat

Shares of UnitedHealth Group (UNH) are trading higher on Tuesday following the company's first quarter earnings report. The healthcare conglomerate surprised analysts by posting better-than-expected revenue despite recovering from a cyberattack during the quarter.

UnitedHealth reported revenue of $99.8 billion, exceeding the Street's estimate of $99.21 billion. However, the company did report a loss of $1.53 on a GAAP EPS basis, falling short of the expected $6.30 per share.

Yahoo Finance's Anjalee Khemlani breaks down the details.

For more expert insight and the latest market action, click here to watch this full episode of Market Domination.

ADVERTISEMENT

This pos was written by Angel Smith

Video transcript

- It's time now for some of the day's top trending tickers as we approach the end of the trading session. We're going to take a look at shares of UnitedHealth Group. First of all, that stock rising in today's session after beating revenue estimates in the first quarter despite financial impacts from that cyber attack on its subsidiary change healthcare. Anjalee Khemlani is joining us now to discuss.

This was what everybody was watching. Although there's some other interesting stuff in there, but change healthcare was the important thing.

- Changes the story. Yeah, we have to focus on that because that is the story. Everyone's surprised that the company did as well as it did despite the attack. The numbers, if you look at them, $872 million dollars is the total impact that the company recorded for the quarter. And it's estimating that the full-year impact is going to be $1 billion. Now that's a lot of money.

However, if you take it into context of the reported 2024 expected revenue for the company, that's $400 million, it's a drop in the bucket. And that is what some had cautioned that while we do see from the attack just how much this company has control of the financial pipelines of the health care ecosystem. It is also important to note that it is such a large company that it itself is not going to be impacted as much.

However, we do know the larger impacts that the company had on pharmacists, on providers, and the like that were struggling and continue to, in some cases, with lack of payment. So we did see that extra payment out to and the loans that United is responsible for these providers. So that has been helping, and that is where that excess spend comes from that they incurred in that quarter.

- All right. Anj, thanks so much. Appreciate it.