ORANGE, Calif. (AP) — ORANGE, Calif. (AP) — Alignment Healthcare Inc. (ALHC) on Thursday reported second-quarter earnings of $36.6 million.
The Orange, California-based company said it had net income of 17 cents per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 13 cents per share.
The Medicare Advantage insurer posted revenue of $1.34 billion in the period, also beating Street forecasts. Five analysts surveyed by Zacks expected $1.31 billion.
Alignment Healthcare shares have declined slightly more than 5% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $18.71, a climb of 44% 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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