: Lemonade shares slip after earnings, outlook beat

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Lemonade Inc. LMND shares dipped in the extended session Tuesday after the mobile-based insurance company reported better-than-expected quarterly results a day before the scheduled release. Lemonade shares slipped 0.3% after hours, following a 0.5% rise in the regular session to close at $65.92. The company reported a third-quarter loss of $30.9 million, or 57 cents a share, compared with a loss of $31.2 million, or $2.78 a share, in the year-ago period. Revenue declined to $17.8 million from $19 million in the year-ago quarter. Analysts surveyed by FactSet had forecast a loss of 64 cents a share on revenue of $14.7 million. Lemonade expects revenue of $18 million to $19 million for the fourth quarter, and $91 million to $93 million for the year. Analysts had forecast revenue of $16.8 million for the fourth quarter, and $87.5 million for the year. Lemonade reported its first earnings in August following its initial public offering in July. Lemonade shares, which debuted 139% above their initial pricing on the first day of trade, are 127% above their $29 original pricing.
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