"UnitedHealth's $1.6 Billion Cyberattack Fallout: Earnings Beat Amid Ransomware Nightmare"

UnitedHealth Group expects the hack of its Change Healthcare unit to cost up to $1.6 billion this year, but still maintains its 2024 earnings forecast. Despite the cyberattack's disruptions, the healthcare conglomerate beat first-quarter earnings estimates, leading to a 5.3% increase in its shares. The hack at Change Healthcare, a key node in the U.S. healthcare system, caused massive disruptions, including delays in claim submissions and impacts on community health centers. UnitedHealth has provided over $6 billion in advance funding to certain healthcare providers and expects Change to return to baseline performance next year. The company's 2024 adjusted profit forecast remains unchanged, despite an expected impact of $1.15 to $1.35 per share from the hack.