UNITEDHEALTH GROUP INC. 
Revenues reached $98.9 billion, up almost $6 billion on the previous year, mainly thanks to Optum. UnitedHealthcare has seen an increase of 2.3 million consumers for its domestic commercial offers since the beginning of the year. Operating profits totaled $7.9 billion, including $1.1 billion in unfavorable effects related to the cyberattack. Adjusted operating profits were $8.7 billion. Operating cash flow for the quarter was $6.7 billion.
The medical care ratio reached 85.1%, up from 83.2% the previous year.
The company restored the majority of services affected by the cyberattack on Change Healthcare and provided over $9 billion in advance financing and interest-free loans to support healthcare providers. The impact of the cyberattack in the second quarter amounted to $0.92 per share, including $0.64 for direct response efforts and $0.28 for business disruption.
Second-quarter earnings per share were $4.54, adjusted for the classification of South American operations as held for sale and the consequences of the cyberattack. Otherwise, adjusted earnings per share were $6.80, including business disruption impacts of $0.28 per share.
UnitedHealth Group has updated its net income guidance for 2024 to a range of $15.95 to $16.40 per share, taking into account the sale of its South American operations and the estimated impacts of the cyberattack. The company maintains its guidance for adjusted net income between $27.50 and $28.00 per share.
UnitedHealth Group continues to focus on providing high-quality, affordable healthcare. The company plans to sell its remaining South American operations after completing the sale of its Brazilian business in the first quarter of 2024. US healthcare company posts robust growth despite challenges posed by cyberattack and South American operations. Adjusted net profit forecasts remain solid, reflecting the resilience and diversification of the company's activities.
The share price is up 0.7% this morning.
