Evolent Health: 3Q Earnings Snapshot
ARLINGTON, Va. (AP) _ Evolent Health Inc. (EVH) on Tuesday reported a loss of $12.4 million in its third quarter.
The Arlington, Virginia-based company said it had a loss of 16 cents per share. Losses, adjusted for non-recurring costs and stock option expense, were 4 cents per share.
The results surpassed Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for a loss of 5 cents per share.
The health care software and consulting services provider posted revenue of $149.9 million in the period. Its adjusted revenue was $150.2 million, also beating Street forecasts. Ten analysts surveyed by Zacks expected $142.9 million.
For the current quarter ending in December, Evolent Health said it expects revenue in the range of $185 million to $190 million.
The company expects full-year revenue in the range of $624 million to $629 million.
Evolent Health shares have risen 86 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $22.86, more than doubling in the last 12 months.