Shares of eHealth tank after Q2 results; Medicare membership grows

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Shares of eHealth tank after Q2 results; Medicare membership grows

5:42 pm ET July 23, 2020 (MarketWatch) Print

Shares of eHealth Inc. (EHTH) tanked more than 20% in the extended session Thursday after the online health insurance marketplace reported an adjusted quarterly profit and sales came in above expectations. EHealth said it lost $3.4 million, or 13 cents a share, in the quarter, compared with a net loss of $5.8 million, or 25 cents a share, in the second quarter of 2019. Adjusted for one-time items, eHealth earned $1.7 million, or 7 cents a share. Revenue rose 35% to $88.8 million, the company said. Analysts polled by FactSet had expected an adjusted loss of 15 cents a share on sales of $81.5 million. The company said the number of new paying members for all its Medicare products rose 40% to 72,651 people. The stock had ended the regular trading day down 0.8%.

-Claudia Assis; 415-439-6400; AskNewswires@dowjones.com

(END) Dow Jones Newswires

July 23, 2020 17:42 ET (21:42 GMT)