Recap: Change Healthcare Q1 Earnings

Shares of Change Healthcare CHNG decreased in after-market trading after the company reported Q1 results.

Quarterly Results

Earnings per share rose 64.00% over the past year to $0.41, which missed the estimate of $0.44.

Revenue of $867,856,000 higher by 25.02% from the same period last year, which beat the estimate of $858,480,000.

Guidance

Change Healthcare hasn't issued any earnings guidance for the time being.

Change Healthcare hasn't issued any revenue guidance for the time being.

Recent Stock Performance

Company's 52-week high was at $24.21

52-week low: $11.56

Price action over last quarter: down 10.41%

Company Overview

Change Healthcare is a spin-off of various healthcare processing and consulting services acquired by McKesson over numerous years. Recently, these processing assets were contributed to a joint venture and in June 2019 public shares were issued with McKesson retaining the majority interest. As of the end of the March 2020 quarter, McKesson distributed all its interest in the public processor. Core services consist of insurance (healthcare) claim clearinghouse for healthcare payers in addition to administrative and consulting services to assist healthcare providers improve reimbursement coding, billing, and collections.