July 15, 2020 / 10:09 AM / a month ago

Insurer UnitedHealth's quarterly profit more than doubles as medical costs drop

July 15 (Reuters) - UnitedHealth Group Inc said on Wednesday its second-quarter profit more than doubled, helped by lower medical costs due to a fall in healthcare utilization following coronavirus-fueled lockdowns and social distancing.

Net earnings attributable to shareholders jumped to $6.64 billion, or $6.91 per share, in the three months ended June 30, from $3.29 billion, or $3.42 per share, a year earlier.

Total revenue rose to $62.14 billion from $60.60 billion. (Reporting by Manojna Maddipatla in Bengaluru; Editing by Sriraj Kalluvila)

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