DRAPER, Utah (AP) _ HealthEquity Inc. (HQY) on Tuesday reported a fiscal third-quarter loss of $21.3 million, after reporting a profit in the same period a year earlier.
The Draper, Utah-based company said it had a loss of 30 cents per share. Earnings, adjusted for costs related to mergers and acquisitions and amortization costs, came to 47 cents per share.
The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 22 cents per share.
The provider of services for managing health care accounts posted revenue of $157.1 million in the period, also exceeding Street forecasts. Seven analysts surveyed by Zacks expected $152.1 million.
HealthEquity expects full-year earnings in the range of $1.46 to $1.52 per share, with revenue in the range of $520 million to $526 million.
HealthEquity shares have risen 2.5% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $61.15, a decline of 32% 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
Automated Insights, source Associated Press News