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EHealth stock falls 10% after Q3 earnings, guidance

Shares of eHealth Inc. fell 10% in the extended session Thursday despite a quarterly beat for the online health insurance marketplace. EHealth said it lost $14.5 million, or 55 cents a share, in the third quarter, compared with a net loss of $11 million, or 47 cents a share, for the third quarter of 2019. Adjusted for one-time items, the company lost $9.5 million, or 36 cents a share, compared with an adjusted loss of 43 cents a share a year ago. Sales rose 35% to $94.3 million. Analysts polled by FactSet expected an adjusted loss of 58 cents a share on sales of $86 million. “Our third-quarter results reflect strong momentum in our Medicare online enrollments, significant growth in Medicare carrier advertising revenue and an investment in our tele-sales capacity and technology initiatives” ahead of Medicare’s enrollment period, eHealth Chief Executive Scott Flanders said in a statement. The company reiterated its full-year guidance, saying it expects revenue between $630 million and $670 million. GAAP EPS is seen between $2.91 and $3.47, and adjusted EPS between $3.83 and $4.32, the company said. EHealth shares ended the regular trading day up 0.4%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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