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UnitedHealth's shares dip on small increase in quarterly profit

UnitedHealth's shares dip on small increase in quarterly profit

UnitedHealth Group Inc., the nation's largest health insurer, reported a tiny uptick in third-quarter profit, disappointing investors who have bid up the company's shares in recent months. The Minnetonka, Minn., company said government funding cuts to Medicare Advantage plans were one drag during the quarter, but it said overall medical costs remained in check. The company said net income for the quarter ended Sept. 30 was $1.57 billion, or $1.53 a share. That was up 1% from $1.56 billion, or $1.50 per share, for the same period a year ago. Revenue in the quarter rose 12% to $30.6 billion. Shares of UnitedHealth were off 5%, or $3.72, to $71.47 in midday trading. Full...

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