By Kimberly Chin 

UnitedHealth Group Inc. has raised its full-year earnings outlook as the company continued to see growth in health-care plan membership and premiums.

UnitedHealth expects to earn $12.80 a share on an adjusted basis this year, compared with the range of $12.50 to $12.75 a share it previously guided.

The parent of the nation's largest health insurer said net income in the third quarter rose 28% from a year earlier to $3.19 billion, or $3.24 a share. On an adjusted basis, UnitedHealth's profit rose to $3.41 a share. Analysts polled by Refinitiv expected the company to earn $3.29 a share.

Revenue rose 12% to $56.56 billion, as analysts had expected $56.34 billion. Revenue from its UnitedHealthcare segment grew 13% while sales from its Optum segment grew 11%.

Shares in UnitedHealth, which have gained 18% this year, rose 2.4% to $266.40 in premarket trading.

 

(END) Dow Jones Newswires

October 16, 2018 06:48 ET (10:48 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.
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