Tenet Healthcare Corp. Q2 Profit Decreases, but beats estimates

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

The company's bottom line totaled $38 million, or $0.35 per share. This compares with $119 million, or $1.11 per share, in last year's second quarter.

Excluding items, Tenet Healthcare Corp. reported adjusted earnings of $163 million or $1.50 per share for the period.

Analysts on average had expected the company to earn $0.87 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 6.5% to $4.63 billion from $4.95 billion last year.

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

-Earnings (Q2): $38 Mln. vs. $119 Mln. last year. -EPS (Q2): $0.35 vs. $1.11 last year. -Analyst Estimates: $0.87 -Revenue (Q2): $4.63 Bln vs. $4.95 Bln last year.

-Guidance: Next quarter EPS guidance: $1.14 - $1.36 Next quarter revenue guidance: $4.70 - $4.90 Bln Full year EPS guidance: $5.80 - $7.00 Full year revenue guidance: $19.0 - $19.40 Bln