Jul 17, 2018 - Health

UnitedHealth Group is raking in profits

UnitedHealth Group headquarters in Minnesota.

UnitedHealth Group's headquarters in Minnesota. Photo: UnitedHealth

UnitedHealth Group posted another quarter above expectations, banking a $2.9 billion profit in the second quarter on more than $56 billion of revenue. The $2.9 billion in earnings was 28% higher than the same period last year.

Between the lines: The conglomerate continues to control more of the domestic and global health economy and is reaping huge amounts of cash in the process. But Wall Street actually sold off UnitedHealth's stock Tuesday because medical costs on the health insurance side were a shade higher than expected.

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