UnitedHealth Group Inc., parent company of United Healthcare of New England, posted
record revenues and earnings during the first quarter. The health insurer on April
27 said revenues grew 11 percent, reaching $5.68 billion, while earnings jumped
33 percent to $212 million.
The Minnesota-based company credited its diversification strategy for the strong results, as each business segment posted earnings of 30 percent or more. Improved productivity through information-technology investments also boosted profits by cutting costs.
“Even as the economy slows, our attention to business diversity, to the implementation of service- and quality oriented information technologywill enable us to continue to generate strong results,” UnitedHealth Chairman and CEO William W. McGuire said in a written statement.
The company boosted its earnings-per-share estimate for 2001 to $2.66, which would be a 27 percent jump from last year. Analysts had expected $2.52 per share for the year.