After the cyberattack they had in February, UnitedHealth Group apparently did much better than they thought they would. And even though the company got “better-than-expected revenue,” they are still having problems because of the cyberattack.
It was thought that the company would make about $99 billion in sales, but it actually made a little more than $100 billion. The company said that the cyberattack and selling their business in Brazil were the two things that caused them to have a net loss during that time. UnitedHealth had a net loss because of these two things, but the outcome was still much better than predicted.
Before the company looked into the effects, they split them into two groups: “direct response” and “business disruption.” Both of these groups were made up of effects that came from the cyberattack. Based on the numbers, it looks like the “direct response,” which would be the company’s work to get the platforms back up and running, cost more per share than the “business disruption” category.
Shares of UnitedHealth have gone up over the last week, but the market as a whole was down 15%.
Optum is one of the two companies that make up UnitedHealth. Optum is a program that helps more than 100 million people get medical care and offers a wide range of pharmacy and advice services. The amount of money Optum makes is higher than it was last year, and they say that’s because they now serve a “large expansion” of people.
