Oscar Health Inc Cl A (OSCR) said before open Tuesday that it lost $0.29 per share in quarter three 2023.
On the revenue line, the company reported $1.4 billion, beating estimates by $20 million.
In the same quarter a year ago, the company lost $0.91 per share on revenue of $978.4 million.
The stock is up 14.89% to $6.56 after the report.
The firm's lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.
The average recommendation from Wall Street analysts was a Buy which may get revised based on this new data.
Trading in the five days leading up to the report earned Oscar Health Inc Cl A a Bullish Sentiment Rank from InvestorsObserver.
Prior to the report, InvestorsObserver gave the stock an overall score of 48. Meanwhile, the average Wall Street analyst rated the stock a Buy.
Oscar Health Inc is a health insurance company. The company provides various insurance plans for individuals, family, and employees. Also, the company provides virtual care, doctor support, scheduling appointments, and other related services. The company provides plans in the Medicare Advantage program to adults who are age 65 and older and eligible for traditional Medicare but who instead select coverage through a private market plan.
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Oscar Health Inc Cl A Up 14.89% To $6.56 After Earnings Beat
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