Insurer UnitedHealth warns of cost rebound after strong quarterly profit

Customers get information from a reception desk at a UnitedHealthcare store in Queens, New York.

Michael Nagle | Bloomberg | Getty Images

UnitedHealth said on Wednesday its second-quarter profit more than doubled, helped by lower medical costs due to a fall in healthcare utilization following coronavirus-fueled lockdowns and social distancing.

Net earnings attributable to shareholders jumped to $6.64 billion, or $6.91 per share, in the three months ended June 30, from $3.29 billion, or $3.42 per share, a year earlier.

Total revenue rose to $62.14 billion from $60.60 billion.

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