Molina Healthcare Inc.
(NYSE:MOH) shares fell Thursday after the health insurer reported lower second-quarter premium revenue despite topping Wall Street estimates for earnings and revenue.
Earnings Beat As Premium Revenue Declines Adjusted earnings were $1.51 per share, down 72.4% from $5.48 a year earlier but above the analyst consensus estimate of $1.39.
Revenue fell 4.8% year over year to $10.87 billion, topping expectations of $10.79 billion, according to Benzinga Pro.
Premium revenue declined 6% year over year to approximately $10.2 billion, reflecting lower membership that was partially offset by rate updates.
