UnitedHealth’s first-quarter adjusted earnings topped Wall Street’s estimates, despite a cyberattack that will weigh on the healthcare and insurance company’s full-year results.
Its shares rose over 6% to above $474, shortly after the market open. As of Monday’s close, the stock was down 15% this year.
The cyberattack struck the company’s Change Healthcare business, and UnitedHealth is working on restoring services. It expects the attack to hit its full-year earnings by between $1.15 and $1.35 a share. It also anticipates direct-response costs of 85 cents to 95 cents a share for the year.
The company updated its 2024 net earnings outlook to $17.60 to $18.20 a share to reflect the sale of its Brazil operations and the expected costs of the cyberattack. It kept its adjusted net earnings outlook unchanged.
Write to Sabela Ojea at [email protected]
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