Reported 1 day ago
UnitedHealth, long regarded as a reliable performer among investors, experienced a shocking earnings miss recently, leading to its largest one-day selloff in over 25 years. The company's quarterly revenue totaled $109.6 billion, falling nearly $2 billion short of expectations, primarily due to rising medical costs and unforeseen changes in its Optum subsidiary. Despite analysts' confusion over the earnings shortfall and concerns about the company’s forecast clarity, the industry initially reacted by dumping shares broadly. However, rival Elevance Health managed to reassure investors about its expected profits, while UnitedHealth's stock plummeted by more than 22%, losing nearly $120 billion in market value.
Source: YAHOO