NEW YORK (AP) — NEW YORK (AP) — Lemonade, Inc. (LMND) on Wednesday reported a loss of $35.8 million in its first quarter.
On a per-share basis, the New York-based company said it had a loss of 47 cents.
The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 58 cents per share.
The company posted revenue of $258 million in the period, also beating Street forecasts. Five analysts surveyed by Zacks expected $252.4 million.
For the current quarter ending in June, Lemonade said it expects revenue in the range of $287 million to $290 million.
The company expects full-year revenue of $1.2 billion.
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