ORANGE, Calif. (AP) _ Alignment Healthcare Inc. (ALHC) on Thursday reported a loss of $40.8 million in its first quarter.

On a per-share basis, the Orange, California-based company said it had a loss of 23 cents.

The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 24 cents per share.

The Medicare Advantage insurer posted revenue of $345.5 million in the period, which also topped Street forecasts. Six analysts surveyed by Zacks expected $332.9 million.

For the current quarter ending in July, Alignment Healthcare said it expects revenue in the range of $335 million to $340 million.

The company expects full-year revenue in the range of $1.34 billion to $1.35 billion.

Alignment Healthcare shares have declined 31% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $9.75, a decrease of 64% 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 ALHC at https://www.zacks.com/ap/ALHC

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