© Reuters. FILE PHOTO: The corporate logo of the UnitedHealth Group appears on the side of one of their office buildings in Santa Ana, California, U.S., April 13, 2020. REUTERS/Mike Blake/File Photo
(Reuters) – UnitedHealth Group Inc (NYSE:) raised its full-year adjusted profit forecast following strength at its Optum healthcare services unit that led to an uptick in its quarterly profit.
The unit has helped UnitedHealth withstand fluctuations at its core health insurance business due to pandemic-induced changes in patients’ use of medical services.
Revenue from the Optum unit, which manages drugs benefits and offers healthcare data analytics services, rose 18.9% to $43.26 billion in the reported quarter.
Net earnings attributable to shareholders rose to $5.03 billion, or $5.27 per share, in the first quarter ended March 31, from $4.86 billion, or $5.08 per share, a year earlier.
UnitedHealth said it now expects an adjusted profit of between $21.20 to $21.70 per share in 2022 compared to its prior forecast of $21.10 and $21.60 per share.
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