Why eHealth Stock Skyrocketed Today
Shares of eHealth (NASDAQ: EHTH) were skyrocketing 27.3% as of 3:28 p.m. EDT on Friday. The online health insurance exchange operator announced its second-quarter results after the market closed on Thursday. As you might have guessed, those results were very good.
The company reported Q2 sales of $65.8 million, more than double the total posted in the prior-year period and well above Wall Street's consensus estimate of $41.65 million. eHealth also announced adjusted earnings per share of $0.10. This reflected a significant improvement from the net loss of $0.40 per share in the second quarter of 2018. It was also much better than the $0.36-per-share loss expected by analysts.
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