AP NEWS

Change Healthcare: Fiscal 3Q Earnings Snapshot

February 12, 2020 GMT

NASHVILLE, Tenn. (AP) _ Change Healthcare Inc. (CHNG) on Wednesday reported fiscal third-quarter earnings of $31.2 million.

The Nashville, Tennessee-based company said it had net income of 10 cents per share. Earnings, adjusted for amortization costs and costs related to mergers and acquisitions, came to 33 cents per share.

The results exceeded Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 30 cents per share.

The health care technology company posted revenue of $808.2 million in the period, which fell short of Street forecasts. Eight analysts surveyed by Zacks expected $815.7 million.

For the current quarter ending in March, Change Healthcare said it expects revenue in the range of $775 million to $785 million.

Change Healthcare shares have decreased 3% since the beginning of the year.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CHNG at https://www.zacks.com/ap/CHNG