MINNEAPOLIS (AP) — MINNEAPOLIS (AP) — Bright Health Group Inc. (BHG) on Wednesday reported a loss of $679.6 million in its fourth quarter.
On a per-share basis, the Minneapolis-based company said it had a loss of $1.10. Losses, adjusted to account for discontinued operations, came to 34 cents per share.
The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 54 cents per share.
The health insurer posted revenue of $551.4 million in the period.
For the year, the company reported that its loss widened to $1.46 billion, or $2.38 per share. Revenue was reported as $2.41 billion.
The company’s shares closed at 87 cents. A year ago, they were trading at $3.32.
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