LONG BEACH, Calif. (AP) — LONG BEACH, Calif. (AP) — Molina Healthcare Inc. (MOH) on Wednesday reported second-quarter profit of $60 million.
The Long Beach, California-based company said it had profit of $1.19 per share. Earnings, adjusted for one-time gains and costs, came to $1.51 per share.
The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.37 per share.
The provider of Medicaid-related services posted revenue of $10.87 billion in the period, which missed Street forecasts. Five analysts surveyed by Zacks expected $10.88 billion.
Molina expects full-year earnings to be $5.25 per share.
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