Oscar Health Reports Record Profit As Obamacare Enrollment Jumps

Oscar Health swung to a $679 million first-quarter profit, the highest in company history, driven by health plan membership growth of more than 50% and easing medical costs. The result signals a sharp improvement in underlying fundamentals and operating leverage for the health insurer. The surprise profitability and strong membership expansion should be supportive for the stock.

Analysis

Oscar Health swung to a $679 million first-quarter profit, the highest in company history, driven by health plan membership growth of more than 50% and easing medical costs. The result signals a sharp improvement in underlying fundamentals and operating leverage for the health insurer. The surprise profitability and strong membership expansion should be supportive for the stock.