UnitedHealth Group Inc (UNH) has reported a 34.82 percent jump in profit for the quarter ended Mar. 31, 2017. The company has earned $2,172 million, or $2.23 a share in the quarter, compared with $1,611 million, or $1.67 a share for the same period last year. On the other hand, adjusted net income for the quarter stood at $2,309 million, or $2.37 a share compared with $1,751 million or $1.81 a share, a year ago.
Revenue during the quarter grew 9.42 percent to $48,723 million from $44,527 million in the previous year period. Net premium earned for the quarter increased 11.86 percent or $4,127 million to $38,938 million.
Total expenses move up
Operating income for the quarter was $3,413 million, compared with $2,960 million in the previous year period.
For fiscal year 2017, UnitedHealth Group Inc projects revenue to be $200,000 million. The company expects diluted earnings per share to be in the range of $9.10 to $9.30 and expects diluted earnings per share to be in the range of $9.65 to $9.85 on adjusted basis.
"Our focus on quality and consistency in everything we do for those we serve across the health system continues to strengthen our business each quarter. These efforts are driving consistent growth and strong bottom line performance across our businesses," said Stephen J. Hemsley, chief executive officer of UnitedHealth Group.
Operating cash flow improves significantly
UnitedHealth Group Inc has generated cash of $6,456 million from operating activities during the quarter, up 178.52 percent or $4,138 million, when compared with the last year period.
The company has spent $2,289 million cash to meet investing activities during the quarter as against cash outgo of $4,181 million in the last year period.
Cash flow from financing activities was $1,525 million for the quarter, up 1.53 percent or $23 million, when compared with the last year period.
Total assets stood at $137,157million as on Mar. 31, 2017. On the other hand, total liabilities were at $91,495 million as on Mar. 31, 2017.
Return on assets was at 2.76 percent in the quarter. At the same time, return on equity was at 4.94 percent in the quarter.
Investments stood at $25,760 million as on Mar. 31, 2017.
Total debt was at $33,901 million as on Mar. 31, 2017. Shareholders equity was at $43,995 million as on Mar. 31, 2017. As a result, debt to equity ratio was at 0.77 percent in the quarter.
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