UnitedHealth Group, comprising UnitedHealthcare and Optum, reported a 6% increase in consolidated revenues to $98.855 billion for the second quarter of 2024 compared to the same period in 2023. The revenue growth was primarily driven by Optum Rx and Optum Health, with UnitedHealthcare revenues growing by 5%. Earnings from operations for the quarter were $7.875 billion, a slight decrease from $8.057 billion in the previous year, largely due to the impact of the Change Healthcare cyberattack. The diluted earnings per share stood at $4.54, influenced by the cyberattack and the loss on South American subsidiaries held for sale. The company's medical care ratio increased slightly to 85.1%, and the operating cost ratio improved by 1.6%. UnitedHealthcare experienced growth in Medicare Advantage and domestic commercial offerings, while Optum Health and...Show More

UnitedHealth Group, comprising UnitedHealthcare and Optum, reported a 6% increase in consolidated revenues to $98.855 billion for the second quarter of 2024 compared to the same period in 2023. The revenue growth was primarily driven by Optum Rx and Optum Health, with UnitedHealthcare revenues growing by 5%. Earnings from operations for the quarter were $7.875 billion, a slight decrease from $8.057 billion in the previous year, largely due to the impact of the Change Healthcare cyberattack. The diluted earnings per share stood at $4.54, influenced by the cyberattack and the loss on South American subsidiaries held for sale. The company's medical care ratio increased slightly to 85.1%, and the operating cost ratio improved by 1.6%. UnitedHealthcare experienced growth in Medicare Advantage and domestic commercial offerings, while Optum Health and Optum Rx saw increases in revenues and earnings from operations. The company also highlighted the substantial progress in mitigating the impact of the Change Healthcare cyberattack, including restoring most services and providing over $9 billion in funding and interest-free loans to support care providers. Looking ahead, UnitedHealth Group expects to continue incurring costs related to the cyberattack and is focused on managing medical cost trends and pricing strategies to balance growth and profitability.