Tenet Healthcare Corp. Q1 Profit Decreases, But Beats Estimates

(RTTNews) - Tenet Healthcare Corp. (THC) announced a profit for first quarter that decreased from the same period last year but beat the Street estimates.

The company's earnings came in at $406 million, or $4.27 per share. This compares with $2.151 billion, or $21.38 per share, last year.

Excluding items, Tenet Healthcare Corp. reported adjusted earnings of $414 million or $4.36 per share for the period.

Analysts on average had expected the company to earn $3.13 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period fell 2.7% to $5.223 billion from $5.368 billion last year.

Tenet Healthcare Corp. earnings at a glance (GAAP) :

-Earnings: $406 Mln. vs. $2.151 Bln. last year. -EPS: $4.27 vs. $21.38 last year. -Revenue: $5.223 Bln vs. $5.368 Bln last year.

-Guidance: Full year EPS guidance: $11.99 to $13.12 Full year revenue guidance: $20,600 -$21,000 Mln