HealthEquity beats Street 2Q forecasts

DRAPER, Utah (AP) _ HealthEquity Inc. (HQY) on Tuesday reported fiscal second-quarter profit of $16.9 million.

The Draper, Utah-based company said it had profit of 27 cents per share.

The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 14 cents per share.

The provider of services for managing health care accounts posted revenue of $56.9 million in the period, also topping Street forecasts. Eight analysts surveyed by Zacks expected $55.7 million.

HealthEquity expects full-year earnings in the range of 64 cents to 68 cents per share, with revenue in the range of $223 million to $228 million.

HealthEquity shares have risen slightly more than 3 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $41.90, a climb of 25 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on HQY at https://www.zacks.com/ap/HQY

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Keywords: HealthEquity, Earnings Report

Source : https://finance.yahoo.com/news/healthequity-beats-street-2q-forecasts-201451454.html

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