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HealthEquity: Fiscal 1Q Earnings Snapshot

DRAPER, Utah (AP) _ HealthEquity Inc. (HQY) on Monday reported fiscal first-quarter earnings of $22.6 million.

The Draper, Utah-based company said it had net income of 36 cents per share. Earnings, adjusted for pretax gains, came to 31 cents per share.

The results beat Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 28 cents per share.

The provider of services for managing health care accounts posted revenue of $69.9 million in the period, also exceeding Street forecasts. Eight analysts surveyed by Zacks expected $68.8 million.

HealthEquity expects full-year earnings in the range of $1 to $1.06 per share, with revenue in the range of $278 million to $284 million.

HealthEquity shares have climbed 63 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $76.21, an increase of 59 percent 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 HQY at https://www.zacks.com/ap/HQY