Why Evolent Health Stock Is Jumping Today
Shares of Evolent Health (NYSE: EVH) are rising sharply on Friday after the company announced better than expected fourth-quarter and full-year financial results. Evolent Health's stock was up by 6.6% as of 1:24 p.m. EST.
During its fourth-quarter 2020 that ended on Dec. 31, Evolent Health recorded revenue of $271.9 million, representing a 15% year-over-year increase. The company's top line handily beat the Wall Street average estimate of $261.55 million. Meanwhile, the company recorded a net loss based on generally accepted accounting principles (GAAP) of $14.6 million, compared to the net loss of $198.1 million it recorded during the prior-year quarter. Analysts are often more interested in a company's non-GAAP (adjusted) bottom line, however.
Image source: Getty Images.
Source Fool.com
