UnitedHealth Group announced first-quarter results that beat analysts expectations for revenue
The company is still dealing with the fallout from a cyberattack on its subsidiary Change Healthcare.
UnitedHealth reported adjusted earnings of $6.91 per share for the quarter. The company said the adjusted figure excludes the Brazil sale, but only part of the impact from the cyberattack. It broke down the effects from the cyberattack into two categories:"direct response" and"business disruption" costs.Direct response efforts, like UnitedHealth's effort to restore Change Healthcare platforms, amounted to an impact of 49 cents per share in the quarter.
Shares of UnitedHealth rose more than 4% in premarket trading Tuesday. As of Monday's close, the stock was down around 15% for the year. In 2022, Optum completed a $13 billion merger with Change Healthcare, which offers tools for payment and revenue cycle management. Change Healthcare processes more than 15 billion billing transactions annually, and one in every three patient records passes through its systems, according to the company.that a cyberthreat actor breached part of Change Healthcare's information technology network, prompting the company to immediately disconnect the affected systems.
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