ORANGE, Calif. (AP) — ORANGE, Calif. (AP) — Alignment Healthcare Inc. (ALHC) on Thursday reported a loss of $31.1 million in its fourth quarter.
The Orange, California-based company said it had a loss of 16 cents per share.
The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 18 cents per share.
The Medicare Advantage insurer posted revenue of $701.2 million in the period, which also topped Street forecasts. Seven analysts surveyed by Zacks expected $677 million.
For the year, the company reported that its loss narrowed to $128 million, or 67 cents per share. Revenue was reported as $2.7 billion.
Alignment Healthcare shares have increased 20% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $13.47, an increase of 95% 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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