UnitedHealth Group Inc. Chief Executive Officer Andrew Witty said the cyberattack that interrupted payments throughout the health-care system for weeks would have been harder to recover from if UnitedHealth didn’t own the company that hackers targeted.
UnitedHealth Group said on Tuesday it expects the hack of its Change Healthcare unit to cost the company up to $1.6 billion this year but maintained its 2024 earnings forecast, suggesting a less severe impact of the cyberattack than many on Wall Street had feared.
The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $6.63 per share. The largest U.S. health insurer posted revenue of $99.8 billion in the period, also exceeding Street forecasts.
UnitedHealth Group expects to take a hit of as much as $1.35 per share to full-year profit from disruptions caused by the February cyberattack at its Change Healthcare unit as it works to restore services and minimize the fallout from the hack.
UnitedHealth Group Inc. reported first-quarter profit that beat Wall Street’s expectations and affirmed its outlook for the year, despite the costs associated with a cyberattack on one of its subsidiaries that has roiled the health-care industry.
UnitedHealth is expected to record higher medical costs in its first earnings report since a cyberattack disrupted its technology systems including those that manage prescription and medical claims, analysts said.
UnitedHealth Group said it could suffer a blow of up to $1.6 billion this year from the far-reaching cyberattack on its payment processing subsidiary, but the health insurer managed to exceed expectations with first quarter earnings.
UnitedHealth Group spent about $872 million during the first quarter responding to the cyberattack at its Change Healthcare division and expects full-year costs could reach $1.6 billion. The numbers,
UnitedHealth Group, the largest health insurance company in the U.S., was the top performer in S&P 500 Tuesday morning after it reported higher-than expected revenue amid the fallout of a massive cyberattack earlier this year.
Healthcare giant UnitedHealth Group reported better-than-expected earnings for a messy first quarter, which included a cyberattack on a unit’s payments tools.
Key Takeaways UnitedHealth Group shares jumped in pre-market trading Tuesday after the company reported first-quarter results that surpassed analyst estimates.Tuesday's report was the first since the healthcare giant was the victim of a cyberattack earlier this year that disrupted some of its operations.
UnitedHealth Group shares moved firmly higher in early Tuesday trading after the health insurance giant reiterated its full-year profit outlook despite a surge in medical payouts and a costly cyberattack.
UnitedHealth impresses with Q1 results amid the aftermath of the Change Healthcare cyberattack and maintains strong guidance amidst business disruption costs. Goldman Sachs reaffirms Buy rating, citing favorable medical cost updates and prudent outlook,
UnitedHealth reported better-than-expected revenue growth in its first earnings report since a wide-ranging cyberattack caused nationwide disruptions to its technology. Why it matters: The conglomerate is under intense scrutiny following the attack on Change Healthcare and an antitrust investigation by the DOJ.
U.S. stocks were mostly higher, with the Dow Jones index gaining over 100 points on Tuesday. Shares of UnitedHealth Group Incorporated (NYSE:UNH) rose sharply during Tuesday’s session following better-than-expected first-quarter earnings.
UnitedHealth's first-quarter adjusted earnings topped Wall Street’s estimates, despite a cyberattack that will weigh on the healthcare and insurance company's full-year results. Its shares rose 5% to $468.
UnitedHealth Group on Tuesday reported better-than-expected revenue for the first quarter. The company is still dealing with the fallout from a cyberattack on its subsidiary Change Healthcare. UnitedHealth reported revenue of $99.
UnitedHealth Group expects to take a hit of $1.15 to $1.35 per share this year from the disruptions caused by the February cyberattack at its Change Healthcare unit as it works to restore services and minimize the fallout from the hack.
Following a YTD slump, leading managed care players in the U.S. traded higher on Tuesday after industry bellwether UnitedHealth (NYSE:UNH) reported better-than-expected Q1 2024 results, shrugging off concerns related to rising medical expenses.
What did investors like about UnitedHealth Group's Q1 update? UnitedHealth Group reported Q1 revenue of $99.8 billion, up 8.6% year over year. This result topped the consensus Wal
UnitedHealth’s (NYSE:UNH) shares jumped in early trading on Tuesday after the health insurer topped Wall Street estimates with its first quarter earnings. Q1 revenues grew 8.6% Y/Y to $99.8B, with adjusted earnings per share amounting to $6.
UnitedHealth Group Inc., the largest health insurer in the U.S., today disclosed that it’s investigating a potential leak of internal. The suspected leak is linked to a cyberattack that the division experienced earlier this year.
Managed care bellwether UnitedHealth Group (NYSE:UNH) is set to report its first quarter results on Tuesday before markets close, with investors closely monitoring the financial impact of the recent cyberattack on the health care giant.
Understanding UnitedHealth Group. UnitedHealth Group is a dominant force in healthcare, known for its insurance and health services platform, Optum. It operates across two fronts:
Shoring up the healthcare system against cyber threats is going to take a lot of money, witnesses and House members said during the first congressional hearing on the Change Healthcare breach.
The health insurance giant's first-quarter earnings announcement was the first time the company had discussed the financial impact of a cyberattack that resulted in a nationwide snarl for health payments.
The disruptions are expected to impact profit by as much as $1.35 per share this year, the company said in a statement. Health insurers had to relax or remove prior authorization processes for some claims following the hack,
UnitedHealth Group drew the ire of federal lawmakers during the first hearing on the fallout surrounding the unprecedented cyberattack on Change Healthcare in late February. Individuals representing the American Hospital Association,
UnitedHealth Group was carrying the Dow Jones Industrial Average higher on Tuesday. With the Dow up 108 points, or 0.3%, in recent trading, UnitedHealth shares were contributing 160.82 points with its 6% gain,