HealthEquity: Fiscal 1Q Earnings Snapshot

By The Associated Press

DRAPER, Utah (AP) _ HealthEquity Inc. (HQY) on Tuesday reported fiscal first-quarter net income of $1.8 million.

The Draper, Utah-based company said it had net income of 3 cents per share. Earnings, adjusted for one-time gains and costs, came to 43 cents per share.

The results missed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 44 cents per share.

The provider of services for managing health care accounts posted revenue of $190 million in the period, which also missed Street forecasts. Eight analysts surveyed by Zacks expected $192.5 million.

For the current quarter ending in August, HealthEquity expects its per-share earnings to range from 23 cents to 30 cents.

HealthEquity shares have decreased 16% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $62.53, a decline of nearly 1% 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

The Associated Press

Top Stories

Top Stories

Most Watched Today