By Bob Herman for Modern Healthcare
Revenue and profit at Molina Healthcare grew rapidly in 2014 as the managed-care insurer continues to show the business potential of Medicaid with the boost from the 2010 healthcare law.
Molina turned a $33.8 million profit in the fourth quarter compared with a $9.1 million loss in the same quarter of 2013. Profit per share was 69 cents in the quarter, beating Wall Street’s consensus estimate by eight cents.
On the year, Molina, headquartered in Long Beach, Calif., posted profit that was 18% higher than in 2013, totaling $62.2 million.
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