ORANGE, Calif. (AP) — ORANGE, Calif. (AP) — Alignment Healthcare Inc. (ALHC) on Thursday reported a loss of $46.5 million in its first quarter.
On a per-share basis, the Orange, California-based company said it had a loss of 25 cents.
The results did not meet Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 24 cents per share.
The Medicare Advantage insurer posted revenue of $628.6 million in the period, beating Street forecasts. Seven analysts surveyed by Zacks expected $597.9 million.
Alignment Healthcare shares have dropped 39% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $5.26, a fall of 22% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ALHC at https://www.zacks.com/ap/ALHC
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