Evolent Health: 2Q Earnings Snapshot
ARLINGTON, Va. (AP) _ Evolent Health Inc. (EVH) on Tuesday reported a loss of $9.9 million in its second quarter.
The Arlington, Virginia-based company said it had a loss of 13 cents per share. Losses, adjusted for non-recurring costs and stock option expense, were 3 cents per share.
The results exceeded Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for a loss of 4 cents per share.
The health care software and consulting services provider posted revenue of $144.3 million in the period. Its adjusted revenue was $144.5 million, also beating Street forecasts. Ten analysts surveyed by Zacks expected $141.9 million.
For the current quarter ending in October, Evolent Health said it expects revenue in the range of $140 million to $144 million.
The company expects full-year revenue in the range of $570 million to $585 million.
Evolent Health shares have climbed 64 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $20.20, a fall of 16 percent in the last 12 months.