UPMC revenue up, income down for FY16
UPMC reported full-year fiscal 2016 operating revenue of $12.8 billion with operating income of $310 million. That compares to $12 billion and $384 million a year ago. The health care giant said a 10 percent jump in insurance services boosted revenue while 2015 operating income was high due to a one-time $233 million gain from the initial public offering of Evolent Health.
Based in downtown Pittsburgh, UPMC released financials on Monday for the year ended June 30.
Earnings before interest, depreciation...