"UnitedHealth's Stock Plummets on Surging Medical Costs in Q4"
UnitedHealth Group reported better-than-expected fourth quarter earnings, but its shares tumbled after revealing a 16% surge in medical costs, driven by increased claims from its Medicare Advantage business and COVID-19-related care. Despite the rising costs, the company maintained its 2024 earnings expectations. Overall, its profit climbed nearly 15% in the final quarter of 2023, with revenue increasing by 14%. However, analysts expressed concerns about the performance of its care-providing arm, Optum Health, and the company's shares fell more than 4% following the announcement.