UnitedHealth Group Reports 12% Revenue Growth Amid 50% Earnings Decline in Q3 2025

UnitedHealth Group reported strong revenue growth of 12% year-over-year to $113.2 billion in Q3 2025, driven by domestic commercial membership increases and strength in its Optum business. Despite this revenue rise, earnings per share significantly declined to $2.92 from $7.15 the previous year, primarily due to elevated medical costs and a deteriorated medical care ratio. The company is undergoing strategic shifts, including a refocus of Optum Health towards value-based care and leadership changes aimed at improving care delivery and cost efficiency. UnitedHealth plans to resume share buybacks and strategic acquisitions in late 2026 to support growth and shareholder value. Analysts, such as Piper Sandler, remain optimistic about the company’s earnings growth potential, despite a slight price target reduction. CEO Stephen Hemsley emphasized ongoing efforts to strengthen performance and position UnitedHealth for accelerating growth beyond 2025.