Molina Healthcare beats third-quarter profit estimates on higher premiums

Oct 23 (Reuters) - Molina Healthcare (MOH.N) beat Wall Street estimates for third-quarter profit on Wednesday, helped by higher premiums at its government-backed Medicaid insurance plans for the low-income population. Shares of the health insurer were up 11% after the bell. The company reaffirmed its 2024 earnings outlook, with premium revenue of about $38 billion and adjusted earnings of at least $23.50 per share. Molina posted a quarterly premium revenue of $9.69 billion, an increase of 18% year over year. Its total revenue of $10.34 billion was above analysts' estimates...