Clover Health Shares Are Up After Q2 Results
Portfolio Pulse from Erica Kollmann
Clover Health Investments Corp. (NASDAQ:CLOV) shares surged after the company reported better-than-expected Q2 earnings and revenue. The company posted earnings of 1 cent per share, beating the expected loss of 5 cents, and revenue of $356.26 million, surpassing the $338.76 million estimate. Insurance revenue grew by 11% year-over-year, and the company raised its full-year insurance revenue guidance.
August 05, 2024 | 9:05 pm
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Clover Health reported Q2 earnings of 1 cent per share, beating the expected loss of 5 cents, and revenue of $356.26 million, surpassing the $338.76 million estimate. Insurance revenue grew by 11% year-over-year, and the company raised its full-year insurance revenue guidance.
The better-than-expected earnings and revenue, along with the raised full-year guidance, are positive indicators for Clover Health. This is likely to boost investor confidence and drive the stock price up in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100