UnitedHealth Group, Minneapolis, reported record profits for the third quarter, with consolidated net earnings up 40% to $353 million, versus $231 million in the third quarter of 2001. Earnings per share increased 44%, to $1.12. Quarterly revenue increased 5.2% to $6.25 billion. Citing improved productivity, growth and a shift to more profitable service lines, UnitedHealth said its operating margin grew to 9.2%, up from 7.1% in the third quarter of 2001. The company also increased its performance expectations for 2003, anticipating earnings per share growth of 18% to 20%. -- by Mary Chris Jaklevic
UnitedHealth reports record third-quarter profits
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