HealthEquity: Fiscal 2Q Earnings Snapshot
DRAPER, Utah (AP) _ HealthEquity Inc. (HQY) on Tuesday reported fiscal second-quarter net income of $22.5 million.
On a per-share basis, the Draper, Utah-based company said it had net income of 36 cents. Earnings, adjusted for pretax gains, came to 34 cents per share.
The results surpassed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 28 cents per share.
The provider of services for managing health care accounts posted revenue of $71.1 million in the period, also beating Street forecasts. Seven analysts surveyed by Zacks expected $69.9 million.
HealthEquity expects full-year earnings in the range of $1.05 to $1.11 per share, with revenue in the range of $279 million to $285 million.
HealthEquity shares have more than doubled since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $94.63, more than doubling in the last 12 months.