UnitedHealth Group reported $14.4 billion in 2024 profits as its UnitedHealthcare health insurance and Optum provider services overcame rising costs and a cyberattack.

But high medical costs contributed to results that disappointed Wall Street, and the company’s stock fell on the news that it had made less than analysts expected.

UnitedHealth Group has reported quarterly profits of $5.5 billion after tax in its first earnings release since the killing of UnitedHealthcare CEO Brian Thompson in New York City, which sparked a wider debate about the cost of health insurance and medication for the American public.

UnitedHealth posted a better-than-expected fourth-quarter profit, but a nagging rise in medical costs and care utilization surprised Wall Street.

UnitedHealth's high medical costs and lower-than-expected revenue in the fourth quarter underscored persistent challenges at its insurance unit, sending the healthcare conglomerate's shares down about 4% before the bell on Thursday.