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Molina: 3Q Earnings Snapshot

LONG BEACH, Calif. (AP) _ Molina Healthcare Inc. (MOH) on Tuesday reported third-quarter profit of $175 million.

On a per-share basis, the Long Beach, California-based company said it had net income of $2.75. Earnings, adjusted for amortization costs, were $2.80 per share.

The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $2.71 per share.

The provider of Medicaid-related services posted revenue of $4.24 billion in the period, also exceeding Street forecasts. Five analysts surveyed by Zacks expected $4.12 billion.

Molina expects full-year earnings to be $11.30 to $11.55 per share, with revenue expected to be $16.8 billion.

Molina shares have increased slightly more than 7% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $124.76, climbing slightly 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 MOH at https://www.zacks.com/ap/MOH