LONG BEACH, Calif. (AP) _ Molina Healthcare Inc. (MOH) on Wednesday reported second-quarter earnings of $185 million.
On a per-share basis, the Long Beach, California-based company said it had profit of $3.16. Earnings, adjusted for one-time gains and costs, were $3.40 per share.
The results missed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $3.47 per share.
The provider of Medicaid-related services posted revenue of $6.8 billion in the period, exceeding Street forecasts. Three analysts surveyed by Zacks expected $6.37 billion.
Molina expects full-year earnings to be $13.25 per share.
Molina shares have risen 22% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $260.02, an increase of 43% 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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