ORANGE, Calif. (AP) — ORANGE, Calif. (AP) — Alignment Healthcare Inc. (ALHC) on Thursday reported a loss of $11 million in its fourth quarter.
On a per-share basis, the Orange, California-based company said it had a loss of 5 cents.
The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 15 cents per share.
The Medicare Advantage insurer posted revenue of $1.01 billion in the period, also beating Street forecasts. Seven analysts surveyed by Zacks expected $1 billion.
For the year, the company reported that its loss narrowed to $724,000. Revenue was reported as $3.95 billion.
For the current quarter ending in March, Alignment Healthcare said it expects revenue in the range of $1.21 billion to $1.23 billion.
The company expects full-year revenue in the range of $5.14 billion to $5.19 billion.
Alignment Healthcare shares have climbed slightly more than 3% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $20.42, an increase of 55% 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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