UnitedHealth Group's earnings for the three months ending in June came in higher than expected, and the company also boosted its full-year profit guidance. However, the company cautioned about a possible miss on 2019 revenue forecasts.
The healthcare company reported adjusted earnings of $3.60 per share for the quarter, which is 15 cents ahead of the Street consensus forecast. The earnings per share figure also reflects a +14.6% increase from the same period last year.
Total revenues of the company rose +8% to $60.6 billion, largely in-line with analysts' estimates.
Looking ahead, UnitedHealth expects its full-year net adjusted net earnings to be in the range of $14.70 to $14.90 per share, which is a small upgrade to the company's prior expectation.
However, CFO John Rex told investors that 2019 revenues would be "at or just slightly below" the forecast range of $243 billion to $245 billion.