Shares of health insurer Oscar Health OSCR.N rise 13% to $34.02 premarket
Co reports Q2 profit of $1.10/shr vs analysts' average estimate of 39 cents/shr, according to LSEG data
Co's Q2 revenue of $4.88 billion beats analysts' average expectation of $4.75 billion
OSCR lowers its annual expectations for medical loss ratio - the share of premiums spent on medical claims - to 81.5% to 82.5% from prior estimate between 82.4% to 83.4%
Co expects annual operating income between $500 million to $700 million compared to its prior expectation of $250 million to $450 million
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