UnitedHealth profit falls, but still beats estimates.
For the latest quarter, net earnings fell to $337 million, or 27 cents per share, from $1.23 billion, or 89 cents, a year earlier. Excluding items UnitedHealth earned 67 cents per share, 2 cents above analysts' estimates. Earlier this month, UnitedHealth estimated earnings for the quarter at 64 cents to 66 cents per share, excluding special items, far below analysts' forecasts at the time. Second-quarter revenue rose 6.7% to $20.3 billion. Earnings from operations at its main healthcare benefits unit fell 35% to $1.14 billion. The company said pressure in its commercial business serving employers ae" where UnitedHealth has cited tough competition ae" hurt margins and enrollment. Company shares closed the week up $3.55, or 15%, at $27.45.
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|Title Annotation:||TOP STORIES|
|Article Type:||Financial report|
|Date:||Jul 28, 2008|
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