LONG BEACH, Calif. (AP) — LONG BEACH, Calif. (AP) — Molina Healthcare Inc. (MOH) on Wednesday reported first-quarter profit of $298 million.
The Long Beach, California-based company said it had profit of $5.45 per share. Earnings, adjusted for one-time gains and costs, were $6.08 per share.
The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $5.86 per share.
The provider of Medicaid-related services posted revenue of $11.15 billion in the period, also surpassing Street forecasts. Five analysts surveyed by Zacks expected $11.12 billion.
Molina expects full-year earnings to be $24.50 per share.
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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
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