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Change Healthcare: Q2 Earnings Insights

Benzinga Insights
·1 min read

Shares of Change Healthcare (NASDAQ:CHNG) moved higher by 1.05% in after-market trading after the company reported Q2 results.

Quarterly Results

Earnings per share rose 18.52% year over year to $0.32, which beat the estimate of $0.25.

Revenue of $755,936,000 decreased by 5.01% year over year, which beat the estimate of $738,750,000.

Guidance

Earnings guidance hasn't been issued by the company for now.

View more earnings on CHNG

Revenue guidance hasn't been issued by the company for now.

Price Action

52-week high: $17.57

Company's 52-week low was at $6.18

Price action over last quarter: Up 16.51%

Company Overview

Change Healthcare is a spin-off of various healthcare processing and consulting services acquired by McKesson over numerous years. Recently, these processing assets were contributed to a joint venture and in June 2019 public shares were issued with McKesson retaining the majority interest. As of the end of the March 2020 quarter, McKesson distributed all its interest in the public processor. Core services consist of insurance (healthcare) claim clearinghouse for healthcare payors in addition to administrative and consulting services to assist healthcare providers improve reimbursement coding, billing, and collections.

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