Oscar Health gains on raising FY revenue forecast

Oscar Health

07/08/2024 13:14

** Shares of health insurer Oscar Health  OSCR.N  up 3.3% at
$17.8 premarket 
    ** Co lifts FY revenue forecast to between $9 billion and
$9.1 billion, above prior view of $8.3 billion to $8.4 billion
    ** Analysts were expecting total full-year revenue of $8.7
billion - LSEG data
    ** OSCR expects annual selling, general and administrative
expenses to be lower than a year ago 
    ** Co reports lower medical costs for second quarter 
    ** OSCR posts Q2 medical loss ratio - the percentage of
premiums spent on medical care - of 79%, better than 79.9% for
the same period last year 
    ** Co reports profit of 20 cents per share for the quarter
ended June 30, compared with a loss of 7 cents for Q2 2023 
    ** As of last close, stock has nearly doubled YTD

 (Reporting by Bhanvi Satija in Bengaluru)
 ((Bhanvi.Satija@thomsonreuters.com; Outside U.S. +91
9873062788;))