Here's What Key Metrics Tell Us About UnitedHealth (UNH) Q2 Earnings

Core Insights - UnitedHealth Group reported $111.62 billion in revenue for Q2 2025, a year-over-year increase of 12.9% [1] - The EPS for the same period was $4.08, down from $6.80 a year ago, representing a surprise of -15.7% compared to the consensus estimate of $4.84 [1] Financial Performance - The reported revenue exceeded the Zacks Consensus Estimate of $111.55 billion by 0.06% [1] - The company’s stock has returned -9.6% over the past month, underperforming the Zacks S&P 500 composite's +3.6% change [3] Key Operating Metrics - Medical Care Ratio was reported at 89.4%, slightly above the average estimate of 88.6% [4] - UnitedHealthcare served 8.44 million risk-based customers, slightly below the average estimate of 8.48 million [4] - Total community and senior customers served were 20.15 million, compared to the average estimate of 20.28 million [4] Revenue Breakdown - Investment and other income was $1.11 billion, exceeding the average estimate of $1.03 billion, with a year-over-year change of +11.1% [4] - Products revenue was $13.56 billion, matching the average estimate, with a year-over-year change of +11.1% [4] - Services revenue was $9.04 billion, below the average estimate of $9.37 billion, with a year-over-year change of +3.3% [4] - Premiums revenue reached $87.91 billion, surpassing the average estimate of $87.23 billion, reflecting a +14.3% year-over-year change [4] - Optum Insight revenue was $4.83 billion, below the average estimate of $5.17 billion, with a +6.3% year-over-year change [4] - Optum Rx revenue was $38.46 billion, exceeding the average estimate of $36.43 billion, with an +18.7% year-over-year change [4] - Optum Health revenue was $25.21 billion, below the average estimate of $26.88 billion, reflecting a -6.8% year-over-year change [4] - Total revenue for UnitedHealthcare was $86.1 billion, surpassing the average estimate of $84.75 billion, with a +16.6% year-over-year change [4]