SelectQuote Rallies On Better-than-expected Quarterly Revenue

Shares of insurance sales agency SelectQuote, Inc. (SLQT) are climbing more than 15% Thursday morning after reporting better-than-expected third-quarter revenue.

Revenue for the quarter increased to $275.11 million from $265.35 million a year ago. The consensus estimate of analysts polled by Thomson Reuters was $259.11 million.

The company reported net loss of 6.45 million or $0.04 per share in the third quarter compared with net income of $35.24 million or $0.21 per share in the same quarter a year ago as a result of higher expense in the latest quarter and an income tax benefit of $6.85 million in the prior-year quarter.

Looking forward, SelectQuote expects revenue in a range of $810 million to $850 million for the full year. Analysts' expectation stands at $813.05 million.

SLQT, currently at $2.77, has traded in the range of $1.93-$31.12 in the past 52 weeks.

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