A couple of Minnesota companies today are reporting first-quarter profits that are lower than what they were a year ago but higher than what analysts expected for the period.
UnitedHealth Group‘s earnings fell off only slightly from 2008. The Minnetonka-based HMO netted $1.67 billion in the three months ending March 31, down from $1.71 billion a year ago.
U.S. Bancorp profits, meanwhile, fell 61 percent, compared with the first-quarter of 2008. The loss is in part because the bank is setting aside money to cover expected loan losses.