By Colin Kellaher
Lemonade shares surged nearly 40% on Thursday after the insurer posted quarterly results and guidance that surpassed Wall Street’s expectations.
Shares of the New York company, which earlier this week hit a 52-week low of $10.26, were recently changing hands at $15.30, up 39%.
After the closing bell on Wednesday, Lemonade reported a third-quarter loss of 88 cents a share amid a 55% jump in revenue to $114.5 million.
Analysts polled by FactSet, on average, were expecting a loss of 94 cents a share on revenue of $104.5 million.
Lemonade also forecast fourth-quarter revenue of $107 million to $109 million and year-end in-force premium of $726 million to $729 million, above the $106.2 million and $717.3 million, respectively, that Wall Street had penciled in.
Write to Colin Kellaher at colin.kellaher@wsj.com
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