ORANGE, Calif. (AP) — ORANGE, Calif. (AP) — Alignment Healthcare Inc. (ALHC) on Thursday reported third-quarter net income of $3.7 million, after reporting a loss in the same period a year earlier.
The Orange, California-based company said it had profit of 2 cents per share.
The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 7 cents per share.
The Medicare Advantage insurer posted revenue of $993.7 million in the period, also beating Street forecasts. Six analysts surveyed by Zacks expected $980.9 million.
Alignment Healthcare shares have climbed 52% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $17.12, a climb of 46% 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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