Tenet Healthcare Corp. Announces 50% Retreat In Q2 Earnings

(RTTNews) - Tenet Healthcare Corp. (THC) reported a profit for second quarter that dropped compared to the same period last year.

The company said its earnings fell to $38 million, or $0.38 per share. This was down from $76 million, or $0.75 per share, in last year's second quarter.

Analysts had expected the company to earn $0.52 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter rose 8.5% to $4.87 billion. This was up from $4.49 billion last year.

Tenet Healthcare Corp. earnings at a glance:

-Earnings (Q2): $38 Mln. vs. $76 Mln. last year. -Earnings Decline (Y-o-Y): -50.0% -EPS (Q2): $0.38 vs. $0.75 last year. -EPS Decline (Y-o-Y): -49.3% -Analysts Estimate: $0.52 -Revenue (Q2): $4.87 Bln vs. $4.49 Bln last year. -Revenue Change (Y-o-Y): 8.5%

-Guidance: Next quarter EPS guidance: $0.10 - $0.25 Next quarter revenue guidance: $4.75 - $4.85 Bln Full year EPS guidance: $1.32 - $1.67 Full year revenue guidance: $19.5 - $19.8 Bln