UnitedHealth Profit Tops Estimates

UnitedHealth said first-quarter profit rose to $1.19 billion, or $1.03 a share, easily beating the estimates of analysts.
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MINNETONKA, Minn. (

TheStreet

) --

UnitedHealth Group

(UNH) - Get Report

said first-quarter profit rose to $1.19 billion, or $1.03 a share, easily beating the estimates of analysts.

Revenue rose 5% to $23.19 billion, UnitedHealth said in a statement Tuesday.

The company earned $984 million, or 81 cents share, in the year-earlier first quarter.

Analysts surveyed by Thomson Reuters expected a first-quarter profit of 69 cents a share on revenue of $22.76 billion.

UnitedHealth said it benefited from growth in its Medicare and Medicaid plans.

The health insurer said it expects 2010 earnings of $3.15 to $3.35 a share on revenue of about $92 billion; it previously expected earnings of $2.90 to $3.10 a share.

-- Reported by Joseph Woelfel in New York.

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