ORANGE, Calif. (AP) — ORANGE, Calif. (AP) — Alignment Healthcare Inc. (ALHC) on Thursday reported a loss of $9.1 million in its first quarter.
The Orange, California-based company said it had a loss of 5 cents per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 12 cents per share.
The Medicare Advantage insurer posted revenue of $926.9 million in the period, which also beat Street forecasts. Five analysts surveyed by Zacks expected $889.5 million.
For the current quarter ending in June, Alignment Healthcare said it expects revenue in the range of $950 million to $965 million.
The company expects full-year revenue in the range of $3.77 billion to $3.82 billion.
Alignment Healthcare shares have increased 49% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $16.77, more than tripling 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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