LONG BEACH, Calif. (AP) _ Molina Healthcare Inc. (MOH) on Wednesday reported third-quarter profit of $185 million.
The Long Beach, California-based company said it had net income of $3.10 per share. Earnings, adjusted for one-time gains and costs, came to $3.36 per share.
The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $2.19 per share.
The provider of Medicaid-related services posted revenue of $5.02 billion in the period, also topping Street forecasts. Five analysts surveyed by Zacks expected $4.84 billion.
Molina expects full-year revenue of $19.6 billion.
Molina shares have climbed 43% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $193.50, an increase of 56% 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
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