UnitedHealth Revenue Strong After Cyberattack

(VitalNews.org) – UnitedHealth Group reportedly did much better than they were anticipating after dealing with a cyberattack they experienced in February. Despite the “better-than-expected revenue” that was received by the company, they are still facing difficulties that were brought on by the cyberattack.

The projected revenue for the company was supposed to be around $99 billion but the company ended up with a little over $100 billion in revenue. The company stated that two things made them have a net loss during the period which included the cyberattack and also selling their Brazil operations. Both of these factors pushed UnitedHealth into a net loss but despite this, the outcome was still much better than expected.

The company looked into their effects by breaking it up into two categories which are the “direct response” and “business disruption” which are both effects that came from the cyberattack. After looking into the numbers, it seems that the “direct response” which would consist of the company’s efforts to restore the platforms, cost more per share than those that landed in the “business disruption” category.

In the last week, shares have risen for UnitedHealth but the stock as a whole was down fifteen percent.

UnitedHealth is made up of two businesses which include Optum. Optum is a program that offers many different pharmacy services, and consulting services, and provides medical care for over one hundred million patients. The revenue from Optum is up compared to last year and they’ve said that the reasoning for this jump is due to the “large expansion” in users that they now serve.

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