UnitedHealth Raises Outlook After Profit Beats All Estimates (3)

UnitedHealth Group Inc. reported first quarter profit that blew past Wall Street expectations and boosted its outlook for the year, a sign of the health conglomerate’s progress toward rebuilding credibility with investors after a collapse a year ago.

Adjusted earnings were $7.23 a share, the company said in a statement Tuesday, above the highest analyst estimate in a Bloomberg survey. A key gauge of medical costs was better than expected, and the company raised its profit view by 50 cents a share.

UnitedHealth jumped as much as 9.8% to $355.08 when markets opened in New York on Tuesday. Shares of ...