UnitedHealth Group (NYSE: UNH) announced its financial results for the first quarter on Tuesday. Shares of the company increased 2.9% to $237 per share in premarket trading today.
According to the company, total revenue for the first quarter increased 13.3% to $55.19 billion. The results beat analysts’ estimates of $54.86 billion.
Additionally, net earnings for the first quarter increased from $2.17 billion, or $2.23 per share, for the same period last year, to $2.84 billion, or $2.87 per share. Adjusted earnings per share for the quarter was $3.04 per share, which beat analysts’ estimates of $2.89 per share.
“Through the intense focus our 285,000 colleagues bring to helping people live healthier lives and helping make the health system work better for everyone, we have grown to serve more people in more ways than ever, including through innovative uses of advanced technologies, data analytics, and modern clinical approaches that improve quality, lower cost and advance consumer and care provider satisfaction,” David S. Wichmann, the chief executive officer of the company said in the press release on Tuesday.
Based on the announcement, the health insurer raised its forecast for adjusted earnings from a range of $12.30 to $12.60 per share to a range of $12.40 to $12.65 per share.