Why MultiPlan Stock Is Soaring Today
Shares of MultiPlan (NYSE: MPLN) were soaring 19.6% higher as of 11:35 a.m. EDT on Thursday. The big gain came after the healthcare technology solutions provider announced better-than-expected first-quarter results before the market opened.
MultiPlan reported Q1 revenue of $254.9 million, up 1.1% year over year and well above the consensus analysts' estimate of $248.5 million. The company posted net income of $45.9 million, or $0.07 per share. This result handily beat the average analysts' earnings estimate of $0.01 per share. It also reflected significant improvement from the net loss of $2.6 million, or $0.01 per share, in the prior-year period.
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Source Fool.com
