Alignment Healthcare: Q1 Earnings Snapshot

ORANGE, Calif. (AP) — ORANGE, Calif. (AP) — Alignment Healthcare Inc. (ALHC) on Thursday reported a loss of $37.3 million in its first quarter.

The Orange, California-based company said it had a loss of 20 cents per share.

The results beat Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 25 cents per share.

The Medicare Advantage insurer posted revenue of $439.2 million in the period, also exceeding Street forecasts. Six analysts surveyed by Zacks expected $431.1 million.

For the current quarter ending in June, Alignment Healthcare said it expects revenue in the range of $433 million to $438 million.

The company expects full-year revenue in the range of $1.71 billion to $1.74 billion.

Alignment Healthcare shares have decreased 40% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $7, a decrease of 33% in the last 12 months.

_____

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