LONG BEACH, Calif. (AP) _ Molina Healthcare Inc. (MOH) on Monday reported fourth-quarter net income of $201 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Long Beach, California-based company said it had net income of $3.01. Earnings, adjusted for one-time gains and costs, were $3.88 per share.
The results exceeded Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.52 per share.
The provider of Medicaid-related services posted revenue of $4.66 billion in the period, also beating Street forecasts. Seven analysts surveyed by Zacks expected $4.56 billion.
For the year, the company reported net income of $707 million, or $10.61 per share, swinging to a profit in the period. Revenue was reported as $18.89 billion.
Molina expects full-year earnings to be $9.25 to $9.75 per share.
Molina shares have climbed 18 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $136.97, an increase of 75 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 MOH at https://www.zacks.com/ap/MOH
Automated Insights, source Associated Press News