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Insurer UnitedHealth's quarterly profit more than doubles as medical costs drop

Credit: REUTERS/MIKE BLAKE

UnitedHealth Group Inc said on Wednesday its second-quarter profit more than doubled, helped by lower medical costs due to a fall in healthcare utilization following coronavirus-fueled lockdowns and social distancing.

July 15 (Reuters) - UnitedHealth Group Inc UNH.N said on Wednesday its second-quarter profit more than doubled, helped by lower medical costs due to a fall in healthcare utilization following coronavirus-fueled lockdowns and social distancing.

Net earnings attributable to shareholders jumped to $6.64 billion, or $6.91 per share, in the three months ended June 30, from $3.29 billion, or $3.42 per share, a year earlier.

Total revenue rose to $62.14 billion from $60.60 billion.

(Reporting by Manojna Maddipatla in Bengaluru; Editing by Sriraj Kalluvila)

((manojna.kalyani@thomsonreuters.com; +91 8061822700;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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