UnitedHealth Group’s 2nd Quarter Profits Beat Expectations

Good news continues for company as it backs away from Obamacare

UnitedHealth Group’s net profit for the second quarter rose to $2.28 billion, or $2.32 a share, from $1.75 billion, or $1.81 a share, in last year’s second quarter, the Wall Street Journal reports. Profit from premiums rose from $36.4 billion to $39.4 billion, according to experts.

This continues the good financial news for the company, after it decided to exit the Obamacare exchanges last year. It’s UnitedHealthcare subsidiary posted record earnings in the first quarter, with profits soaring 35%.

UnitedHealthcare officials said that they would have lost more than $800 million if it continued participating in Obamacare the way it had been.

Source: Wall Street Journal