Hospitals and medical groups say they’re still reeling from the effects of the cyberattack on a UnitedHealth Group subsidiary, but the massive company at the center of the debacle has so far emerged largely unscathed, with executives on Tuesday praising its strength and resilience.
The almost $8 billion UnitedHealth made on operations in the first three months of 2024 was roughly the same as the prior-year period. Despite the Change Healthcare cyberattack, the health insurance, provider, and technology conglomerate reaffirmed its adjusted earnings outlook for the year, and its share price grew more than 5% by market close.
Ultimately, UnitedHealth said it’ll take an up to $1.6 billion hit from the cyberattack this year, a drop in the bucket for a company that’s expected to generate $400 billion in revenue.