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Health insurer UnitedHealth revenue rises 9.4 pct
April 18, 2017 / 10:09 AM / 8 months ago

Health insurer UnitedHealth revenue rises 9.4 pct

April 18 (Reuters) - UnitedHealth Group Inc, the largest U.S. health insurer, reported a 9.4 percent rise in quarterly revenue, driven by strength in its pharmacy benefit management business.

The company, which sells employer-based insurance as well as Medicare and Medicaid, said net earnings attributable rose to $2.17 billion, or $2.23 per share, in the first quarter ended March 31, from $1.61 billion or $1.67 per share, a year earlier.

Revenue rose to $48.72 billion from $44.53 billion.

UnitedHealth’s results come a month after legislation to overhaul the U.S. healthcare system was pulled by Republican leaders due to a shortage of votes.

The Republicans’ failure to repeal Obamacare, at least for now, means it remains federal law. President Donald Trump and Republicans have promised to repeal and replace the law. (Reporting by Ankur Banerjee in Bengaluru; Editing by Shounak Dasgupta)

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