Health Insurance Innovations: 2Q Earnings Snapshot
TAMPA, Fla. (AP) _ Health Insurance Innovations Inc. (HIIQ) on Wednesday reported second-quarter profit of $2.9 million.
On a per-share basis, the Tampa, Florida-based company said it had profit of 22 cents. Earnings, adjusted for non-recurring costs and stock option expense, were 61 cents per share.
The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 58 cents per share.
The Web-based health coverage provider posted revenue of $71.7 million in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $71.2 million.
Health Insurance Innovations expects full-year earnings in the range of $2.47 to $2.57 per share, with revenue in the range of $293 million to $303 million.
Health Insurance Innovations shares have increased 53 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $38.05, a climb of 41 percent in the last 12 months.