DALLAS (AP) — DALLAS (AP) — Tenet Healthcare Corp. (THC) on Wednesday reported fourth-quarter profit of $318 million.
The Dallas-based company said it had profit of $3.32 per share. Earnings, adjusted for non-recurring costs, were $3.44 per share.
The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $2.93 per share.
The hospital operator posted revenue of $5.07 billion in the period, which fell short of Street forecasts. Seven analysts surveyed by Zacks expected $5.16 billion.
For the year, the company reported profit of $3.2 billion, or $32.70 per share. Revenue was reported as $20.67 billion.
Tenet expects full-year earnings in the range of $11.74 to $12.84 per share, with revenue in the range of $20.6 billion to $21 billion.
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