Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Benzinga
Benzinga
Business
Adam Eckert

Why Clover Health Stock Is Surging After Hours

Clover Health Investments Corp (NASDAQ:CLOV) shares are trading higher in Monday's after-hours session after the company reported better-than-expected top-line results and reaffirmed guidance.

Clover Health reported first-quarter revenue of $874.4 million, which beat the $787.34-million estimate. The company reported an adjusted net loss of $75.3 million. 

Lives under management reached approximately 257,000 during the quarter, up from about 66,000 year-over-year.

"We are cautiously optimistic about the remainder of 2022, and are maintaining our expectations for a meaningful improvement over last year," said Mark Herbers, interim CFO of Clover Health.

Clover Health reaffirmed expectations for full-year 2022 revenue of $3 billion to $3.4 billion versus the $3.24-billion estimate. 

See Also: Why Novavax Shares Are Falling After Hours

CLOV 52-Week Range: $1.95-$28.85.

According to data from Benzinga Pro, the stock was up 16.6% in after hours trading. 

Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.