UnitedHealth Group Inc. (UNH) reported that its first-quarter net income attributable to common shareholders declined to $1.192 billion or $1.16 per share, from $1.388 billion or $1.31 per share in the same quarter last year, as first quarter 2012 net earnings were aided by strong reserve development and a favorable rebate true-up. Analysts polled by Thomson Reuters expected the company to report earnings of $1.14 per share for the quarter. Analysts' estimates typically exclude special items.
Total revenues for the quarter rose to $30.34 billion from $27.28 billion in the prior year quarter. Sixteen analysts had consensus revenue estimate of $30.49 billion for the quarter.
The conversion was partially offset by higher-than-expected overall business growth, and UnitedHealth Group now forecasts 2013 revenues will approximate $122 billion, an increase of 10 percent over 2012 results.
Although the April 1 sequestration cuts were not included in previous projections, the company said it continues to forecast 2013 net earnings in the range of $5.25 to $5.50 per common share, recognizing sequestration pressures the top end of that range.
Analysts expect the company to report earnings of $5.51 per share on revenues of $123.76 billion for fiscal 2013.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.