HealthEquity: Fiscal 1Q Earnings Snapshot
DRAPER, Utah (AP) _ HealthEquity Inc. (HQY) on Tuesday reported fiscal first-quarter net income of $41.8 million.
The Draper, Utah-based company said it had profit of 65 cents per share. Earnings, adjusted for one-time gains and costs, came to 41 cents per share.
The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 34 cents per share.
The provider of services for managing health care accounts posted revenue of $87.1 million in the period, which also beat Street forecasts. Seven analysts surveyed by Zacks expected $84 million.
HealthEquity expects full-year earnings in the range of $1.28 to $1.34 per share, with revenue in the range of $339 million to $345 million.
HealthEquity shares have increased roughly 10% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $65.51, a decrease of 14% in the last 12 months.