jurgenfr Clover Health Investments ( NASDAQ: CLOV ) pleased investors after Monday's closing bell by not only releasing Q2 results that beat on both lines , but also providing favorable updated 2024 guidance. The Medicare Advantage plan provider now sees full-year insurance revenue guidance of $1.35B-$1.
375B up from $1.3B-$1.35B before.
The medical cost ratio for 2024 is now expected at 77%-79%, down from 79%-81% prior. Clover Health was helped in the quarter by an 11% year-over-year increase in total revenue to $356.3M, as well as a medical cost ratio of 71.
3%, compared to 77.2% in the year ago period. More on Clover Health Clover Health: New Business Model Is A Game Changer Clover Health spikes as co-founder buys over $1M worth of stock Clover Health Investments, Corp.
2024 Q2 - Results - Earnings Call Presentation Clover Health Investments, Corp. (CLOV) Q1 2024 Earnings Call Transcript Clover Health Q2 2024 Earnings Preview.