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Monday, April 30, 2018

Tenet beats, ups outlook

Shares of Tenet Healthcare Corp. THC, -1.36% rose more than 5% late Monday after the company reported first-quarter earnings and sales above Wall Street expectations and increased its outlook for the year. Tenet said it earned $99 million, or 96 cents a share, in the first quarter, versus a net loss of $53 million, or 53 cents a share, in the first quarter of 2017. Revenue reached $4.7 billion, compared with $4.8 billion a year ago. Analysts polled by FactSet had expected earnings of 25 cents a share on sales of $4.57 billion for the quarter. Tenet said it expects revenue between $17.9 billion and $18.3 billion for 2018. Analysts surveyed by FactSet expect 2018 sales around $18.05 billion. Tenet shares ended the regular session down 1.4%.

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