UnitedHealth Lifts Forecast on Profit Beat

MINNEAPOLIS ( TheStreet) -- UnitedHealth ( UNH) said Tuesday it earned $1.27 billion, or $1.16 a share, in the second quarter, topping analysts' expectations, as revenue grew at both its UnitedHealthcare and Optum businesses. The managed care company also raised its outlook for 2011.

UnitedHealth earned $1.12 billion, or 99 cents a share, a year earlier.

Revenue in the quarter rose to $25.23 billion from $23.26 billion a year earlier.

Analysts surveyed by Thomson Reuters expected UnitedHealth to earn 94 cents a share on revenue of $25.24 billion in the quarter.

UnitedHealth updated its outlook and said Tuesday it now expects earnings of $4.15 to $4.25 a share on revenue of $101 billion. Analysts forecast earnings of $4.19 a share on revenue of $101.5 billion.

-- Written by Joseph Woelfel

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