Stock Alert: SelectQuote Drops 18% Following Quarterly Results

(RTTNews) - Shares of insurance company SelectQuote, Inc. (SLQT) are down more than 18% Wednesday morning despite reporting revenue and earnings growth in the third quarter.

Net Income in the third quarter increased to $36.48 million or $0.22 per share from $23.72 million or $0.17 per share in the same quarter a year ago. Analysts polled by Thomson Reuters expected the company to report earnings of $0.23 per share.

Revenue for the quarter increased 80% Year-Over-Year to $266.92 million.

Looking forward to the full-year, revenue is expected to be in the range of $920 million to $940 million. Consensus estimate stands at $934.91 million.

SLQT, currently at $22.39, has been trading in the range of $15.76- $33 in the past one year.