(Reuters) -UnitedHealth Group Inc 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 (NYSE:UNH) 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.
Insurer UnitedHealth raises 2022 adjusted profit forecast