Beats Earnings by ~2% & Matches Revenue expectations
Total Revenue: ~$98.9 Bn, up 6.5% YoY, down 1% QoQ
Net Income: $4.42 Bn, down 22% YoY, up 17% QoQ
Shares down ~1% after results
Key Takeaways:
The cyberattack impacted services and operations, resulting in $1.1Bn in business disruption impacts
Revised net profit forecast for 2024 to $15.95 – $16.40 per share due to the cyberattack and the classification to held for sale of its South American operations
Operating cost ratio improved to 13.3%
CEO Andrew Witty on Company Resilience:
“Our team’s dedication to ensuring high-quality, affordable care continues to drive our growth despite the challenges from the Change Healthcare cyberattack. We remain focused on managing these disruptions effectively and supporting our care providers.”
