Shares of Oscar Health, Inc. (NYSE:OSCR) soared 5.27% in the last 24 hours, following the release of the company's third-quarter 2024 financial results. While Oscar Health reported a larger-than-expected loss per share, the company's strong revenue growth appears to have fueled investor enthusiasm.

Oscar Health's Q3 2024 revenue of $2.42 billion exceeded analyst estimates of $2.34 billion, representing a remarkable 68.30% increase compared to the same period last year. This exceptional revenue growth highlights the company's ability to expand its business and capture market share, despite operating in a highly competitive healthcare sector.

However, the company's earnings fell short of expectations, with a reported loss of $0.22 per share, missing the analyst consensus estimate of $0.19. While the earnings miss is a concern, investors seem to be focusing more on the company's top-line growth, which is a key driver of long-term profitability.