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UnitedHealth's Profits Fall on Higher Costs

Stock quotes in this article: UNH , AGP , CNC , MAH , HUM , AET , CVH , HNT  

OKLAHOMA CITY -- UnitedHealth Group (UNH Quote) just gave investors another reason to fret.

The giant health insurer saw its third-quarter profits plummet despite a solid uptick in membership and sales. The company's net income fell 28% to $920 million in the recent quarter as a result of rising medical costs and recent investment losses.

Thanks to a favorable adjustment for legal expenses, however, its earnings per share of 75 cents beat Wall Street expectations by 3 cents. ...

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