Magellan Health 2Q profit rises 90 percent
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AVON, Conn.
Magellan Health Services Inc. aforesaid Thursday that its second-quarter profits near double, and the wellness upkeep outsourcing society elevated its gain approximate for the year.
Magellan’s benefit jumped 90 percentage to $35.1 zillion, or $1.05 per plowshare, from $18.5 jillion, or 53 cents per percentage, in the year-ago point. Revenue rosaceous 17 percentage to $741.7 gazillion from $635.8 trillion.
Analysts predicted profits of 74 cents per part and receipts of $748.3 billion, according to a Thomson Reuters appraise.
Magellan aforesaid price of charge increased 7 pct to $472.5 gazillion in the one-quarter.
Magellan boosted its full-year earnings prognosis to a stove of $3.29 to $3.85 per portion from a premature project of $2.73 to $3.29 per part. Analysts estimate income of $3.15 per portion.
In forenoon trading, Magellan neckcloth surged $2.52, or 6.9 pct, to $39.25. The strain has ranged from $29.27 to $44.77 o’er the preceding year.
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