Universal American rises 20% on Q2 profit, revenue
Universal American Corporation (NYSE:UAM) shares have soared 20% today after the company posted a rise in its second-quarter earnings and revenues. For the quarter ended June 30, net income was $28.4 million, or $0.32 per share, compared with $22.3 million, or $0.35 a share, for the same period a year earlier. Wall Street was expecting earnings per share of $0.18. Revenues grew to $1.3 billion, up 77% from a year ago. The Rye Brook, N.Y.-based company offers health insurance and managed care products and services.
At 1:16 p.m. ET, shares are at $12.65, up $2.16 from Thursday’s close. During the past year, shares have ranged from $8.12 to $26.50.
For detailed price information and recent news stories about Universal American Corporation, click UAM.
