Shares of UnitedHealth Group Inc. UNH, +0.99% rose 2.0% in premarket trading Wednesday, after the health care services company reported first-quarter profit and revenue that beat expectations, with results reflecting a "minimal impact" from the COVID-19 pandemic, given that various factors only emerged late in the quarter. Net income fell to $3.47 billion, or $3.52 a share, from $3.47 billion, or $3.56 a share, in the year-ago period. Excluding non-recurring items, adjusted earnings per share slipped to $3.72 from $3.73 but beat the FactSet consensus of $3.63. Revenue grew 6.7% to $64.42 billion, above the FactSet consensus of $64.22 billion. Premiums rose 6.6% to $50.64 billion, just shy of the FactSet consensus of $50.70 billion, while products revenue increased 4.4% to $8.43 billion to beat expectations of $7.76 billion. Services revenue rose 15.4% to $4.99 billion, just below expectations of $5.02 billion. Among COVID-19-related factors that emerged late in the quarter were rising incidence and response initiatives and investment initiatives, including coverage expansions and increased access to critical care and pharmacy services. The company affirmed its 2020 adjusted EPS outlook of $16.25 to $16.55, compared with the FactSet consensus of $16.21. The stock has lost 8.7% over the past three months through Tuesday, while the SPDR Health Care Select Sector ETF XLV, -0.15% has lost 6.6% and the Dow Jones Industrial Average DJIA, -0.87% has declined 17.5%.