ARLINGTON, Va. (AP) — ARLINGTON, Va. (AP) — Evolent Health Inc. (EVH) on Wednesday reported a loss of $20 million in its first quarter.
The Arlington, Virginia-based company said it had a loss of 24 cents per share. Earnings, adjusted for pretax expenses and costs related to mergers and acquisitions, were 21 cents per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 15 cents per share.
The health care software and consulting services provider posted revenue of $427.7 million in the period, which did not meet Street forecasts. Four analysts surveyed by Zacks expected $435.6 million.
For the current quarter ending in June, Evolent Health said it expects revenue in the range of $455 million to $470 million.
The company expects full-year revenue in the range of $1.94 billion to $1.97 billion.
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