LONG BEACH, Calif. (AP) — LONG BEACH, Calif. (AP) — Molina Healthcare Inc. (MOH) on Wednesday reported first-quarter earnings of $14 million.
On a per-share basis, the Long Beach, California-based company said it had net income of 27 cents. Earnings, adjusted for one-time gains and costs, were $2.35 per share.
The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.57 per share.
The provider of Medicaid-related services posted revenue of $10.8 billion in the period, falling short of Street forecasts. Five analysts surveyed by Zacks expected $10.81 billion.
Molina expects full-year earnings to be $5 per share.
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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 MOH at https://www.zacks.com/ap/MOH
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