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UnitedHealth registered $71 billion of revenue in Q2. Photo: Rafael Henrique/SOPA Images/LightRocket via Getty Images

UnitedHealth Group collected $4.3 billion of profit in the second quarter, a 36% decline from the health care conglomerate's historically profitable second quarter last year, when the coronavirus suppressed care and led to the company paying out fewer medical claims.

Yes, but: The company's revenue in this quarter soared 15% year over year, and the $4.3 billion of profit was still 30% higher than the same period in 2019, before the coronavirus hit. UnitedHealth remains the most financially powerful private entity in the health care system.

By the numbers: UnitedHealth's medical loss ratio — or how the industry refers to how much of its premiums were spent on health care — was 82.8%. That was significantly higher than the 70.2% during same period last year (i.e., the height of the pandemic), but lower than the 83% Wall Street had expected.

  • People have definitely been returning to doctors and hospitals, but UnitedHealth is still keeping more profit now than it was before the pandemic.

Go deeper

Updated Jul 8, 2021 - Health

Olympics to be held without spectators as Tokyo enters state of emergency

Japan's Prime Minister Yoshihide Suga speaking to reporters in Tokyo on Wednesday. Photo: STR/Jiji Press/AFP via Getty Images

Summer Olympics events in the Tokyo area will be held without spectators, after Japan declared a state of emergency in the capital following a surge in COVID-19 cases, Japan's Olympics minister announced Thursday.

Why it matters: It's another huge blow to the spectacle and finances of the delayed and scaled-back Olympics, just two weeks ahead of the opening ceremony.

Jul 15, 2021 - World

Australia's 2nd-most populous state to lock down after COVID spike

A bridge over the Yarra River in Melbourne, Australia. Photo: Asanka Ratnayake/Getty Images

Victoria, Australia's second-most populous state, will enter a five-day lockdown just before midnight to combat a growing COVID-19 outbreak, officials announced on Thursday.

Why it matters: It will be the fifth time such restrictions have been imposed on residents in Victoria's state capital, Melbourne — who last year endured one of the world's longest lockdowns (112 days), when the city was Australia's pandemic epicenter.

Updated 5 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Brendan Lynch/Axios

  1. Vaccines: Benefits of J&J COVID-19 vaccine outweigh risks, per CDC data — Why vaccinated America can't turn its back on unvaccinated America.
  2. Health: A reality check on the GOP's push for coronavirus antibody testing — NYC to require COVID vaccination or weekly testing for city workers — Over 50 medical groups call for mandatory vaccinations for health care workers — Savannah reimposes indoor mask mandate.
  3. Politics: Biden: Americans with long-COVID symptoms may qualify for disability resources — Prominent Republicans find new enthusiasm for COVID-19 vaccines — GOP Rep. Clay Higgins says he has COVID for second time.
  4. Sports: Golfer Bryson DeChambeau will miss Olympics after testing positive for COVID— NFL raises vaccine pressure
  5. World: Israel to require vaccine certificates to attend social events.
  6. Variant tracker: Where different strains are spreading.