Centene reported a net loss of $17 million — or 14 cents per share — for the quarter, according to Reuters. For the first quarter of 2015, Centene had a profit of $63 million, or 51 cents per share.
In addition, Centene’s revenue increased 35.5 percent, from $5.13 billion in Q1 of 2015 to $6.95 billion for Q1 of this year.
Centene’s higher revenue is attributed to its acquisition of Woodland Hills, Calif.-based Health Net. Acquisition-related expenses were also cause for its large net loss.
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