UnitedHealth profit surges 13 percent in third quarter, tops earnings estimates

UnitedHealth profit surges 13 percent in third quarter, tops earnings estimates
UnitedHealth profit surges 13 percent in third quarter, tops earnings estimates

UnitedHealth Group Inc. (UNH) on Tuesday reported higher third-quarter earnings, despite dwindling commercial enrollment in employer-sponsored health plans as U.S. jobs cuts mounted. The nation's largest health insurer reported it earned $1.04 billion, up 13 percent from $920 million a year ago.

On a per-share basis, the Minnetonka, Minn.-based company earned 89 cents a share, compared to 75 cents a share a year ago. UnitedHealth had been expected to report third-quarter earnings of 76 cents a share, according to a consensus estimate of 19 analysts polled by Zacks.com. The company is the first of the nation's large health insurers to report earnings.