HealthEquity: Fiscal 3Q Earnings Snapshot
DRAPER, Utah (AP) _ HealthEquity Inc. (HQY) on Tuesday reported fiscal third-quarter net income of $15.7 million.
On a per-share basis, the Draper, Utah-based company said it had profit of 25 cents. Earnings, adjusted for one-time gains and costs, came to 28 cents per share.
The results exceeded Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 25 cents per share.
The provider of services for managing health care accounts posted revenue of $70.5 million in the period, also exceeding Street forecasts. Eight analysts surveyed by Zacks expected $69.8 million.
HealthEquity expects full-year earnings in the range of $1.06 to $1.13 per share, with revenue in the range of $281 million to $285 million.
HealthEquity shares have risen 78 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $83.11, an increase of 70 percent in the last 12 months.