: UnitedHealth stock resumes rally, paces the Dow’s gainers, after earnings beat expectations

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Shares of UnitedHealth Group Inc. UNH, -1.23% climbed 2.3% in morning trading Friday, following a seesaw premarket session, after the health insurer reported fourth-quarter profit and revenue that rose expectations, while affirming its 2023 outlook. The stock was the best performer among the Dow Jones Industrial Average’s UNH, -1.23% components. Net income rose to $$.76 billion, or $5.03 a share, from $4.07 billion, or $4.26 a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share increased to $5.34 from $.48, to beat the FactSet consensus of $5.17. Revenue grew 12.3% to $82.79 billion, above the FactSet consensus of $82.48 billion, while revenue from premiums increased 12.4% to $64.70 billion, just above expectations of $64.67 billion. The company affirmed its guidance ranges provided in late-November for 2023 adjusted EPS of $24.40 to $24.90, which compares with the FactSet consensus of $24.94, and revenue of $357 billion to $360 billion, which surrounds expectations of $356.8 billion. The stock has slipped 0.5% over the past three months, while the SPDR Health Care Select Sector ETF XLV, +0.44% has rallied 8.7% and the Dow has climbed 13.9%.

This article was originally published by Marketwatch.com. Read the original article here.

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