UPDATE: UnitedHealth Group Reports Drop In Q3 Net Profit

UnitedHealth Group Inc UNH reported a decline in its third-quarter net profit on Tuesday. UnitedHealth Group's quarterly net profit dropped to $1.271 billion, or $1.17 per share, from $1.277 billion, or $1.14 per share, in the year-ago period. The company repurchased 18 million shares in the same period. The company's total revenue climbed 6% to $25.3 billion. However, analysts were expecting earnings of $1.12 per share on revenue of $25.4 billion. UnitedHealth Group now projects 2011 earnings forecast in a range of $4.40 to $4.45 per share and revenue to exceed $101 billion. The company had earlier projected earnings of $4.15 to $4.25 per share. UnitedHealth Group shares gained 0.64% to $46.90 in after-hours trading.