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UPDATE: Magellan Health Q4 Profit Falls 50%

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Magellan Health Services (NASDAQ: MGLN) reported a 50% drop in its fourth-quarter earnings.

Magellan's quarterly earnings fell to $18.5 million, or $0.67 per share, versus a year-ago profit of $37 million, or $1.32 per share.

Its revenue rose 21% to $1.01 billion. However, analysts were expecting earnings of $0.83 per share on revenue of $991 million.

Magellan's expenses climbed 27% to 979.8 million.

Magellan shares closed at $61.14 on Friday.

Posted-In: profitEarnings News

 

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