The parent of United Healthcare, which has Hartford operations, said its third-quarter profits climbed $32 million, or 2 percent, largely due to higher premium revenue.
UnitedHealth Group booked $1.6 billion in net income, or $1.63 per diluted share, which beat analysts’ expectations by approximately 10 cents per share. Profits were up from $1.57 billion, or $1.53 per share, in the third quarter last year.
Based on the results, the company said it expects higher earnings for the full year, revising its guidance from a range of $5.50 to $5.60 per share to a range of $5.60 to $5.65.
The company’s shares were trading up 3.6 percent at $85.15 just after 9:30 a.m. Thursday.
United Healthcare, which is UHG’s largest segment, grew its operating income over the year from $1.95 billion to $2.04 billion. Revenue was up nearly 6 percent, to $30.04 billion.
UHC’s total customer count as of Sept. 30 was 45.3 million, down by approximately 340,000 from a year ago.
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