UNITEDHEALTH GROUP REPORTS STRONG PROFITS FOR THE FOURTH QUARTER AND FULL YEAR OF 2022, BEATING ANALYSTS’ EXPECTATIONS

Following several quarters of strong profits, UnitedHealth Group (“United”) again reported strong profits for the fourth quarter of 2022, with double-digit growth at both UnitedHealthcare and Optum. United’s fourth quarter results again beat analysts’ expectations.

United posted profits of $4.8 billion for the fourth quarter, up from $4.1 billion for the fourth quarter in 2021.  United also posted revenues of $82.8 billion for the fourth quarter of 2022, up from $73.7 billion for the prior year quarter, a 13% increase.

For the full year 2022, United reported $20.1 billion in profits and $324.2 in revenues, up from $17.3 billion in profits and $287.6 in revenues for 2021.

The total number of individuals served by UnitedHealthcare grew by 1.2 million people to 51.7 million in 2022. UnitedHealthcare attributed much of the growth to its senior plans, including its Medicare Advantage plans.  UnitedHealthcare is the country’s largest health insurer as measured by revenues, membership and market share.