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Health insurer UnitedHealth's 1st-quarter profit climbs 3 percent, as enrollment, revenue rise
UnitedHealth Group says its first-quarter net income rose 3 percent as the health insurer's gains in enrollment and revenue countered an increase in operating costs.
The Minnetonka, Minn., company says it earned $1.39 billion, or $1.31 per share, in the three months that ended March 31. That's up from $1.35 billion, or $1.22 per share, in the same quarter last year. Revenue grew 7 percent to $27.28 billion.
Analysts forecast earnings of $1.16 per share on $27.01 billion in revenue.
UnitedHealth also raised its 2012 forecast. It now expects earnings to range between $4.80 and $4.95 per share on revenue of $109 billion to $110 billion. That's up from a previous forecast for earnings between $4.55 and $4.75 per share on revenue of $107 billion to $108 billion.