Change Healthcare: Fiscal Q4 Earnings Snapshot
Posted May 26, 2021 2:41 pm.
Last Updated May 26, 2021 2:44 pm.
NASHVILLE, Tenn. (AP) _ Change Healthcare Inc. (CHNG) on Wednesday reported a loss of $13.1 million in its fiscal fourth quarter.
On a per-share basis, the Nashville, Tennessee-based company said it had a loss of 4 cents. Earnings, adjusted for one-time gains and costs, were 42 cents per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 37 cents per share.
The health care technology company posted revenue of $855.2 million in the period, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $841.1 million.
For the year, the company reported that its loss narrowed to $112.2 million, or 35 cents per share. Revenue was reported as $3.09 billion.
Change Healthcare shares have increased 23% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $22.88, a rise of 85% 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 CHNG at https://www.zacks.com/ap/CHNG
The Associated Press
