Cerner posts 5% rise in revenue, 4% drop in net earnings for Q3: 4 things to know

Jessica Kim Cohen - Print  | 

Cerner has released its earnings results for the third quarter of 2018.

Here are four things to know about the Kansas City, Mo.-based EHR vendor's financial performance:

1. Cerner posted $1.34 billion in revenue for the third quarter, up 5 percent from $1.28 billion during the same period last year.

2. Professional services made up most of Cerner's third-quarter revenue at $456.72 million, up 14 percent from the third quarter of 2017. Other major revenue drivers included managed services ($302 million), support and maintenance ($277.78 million), and licensed software ($139.89 million).

3. The company posted $169.38 million in net earnings, down 4 percent from $177.42 million during the third quarter of 2017.

4. Cerner expects its revenue for the fourth quarter of 2018 to be in the range of $1.37 billion to $1.42 billion.

"Our third-quarter results were solid, with all key metrics in our expected ranges," said John Peterzalek, chief client officer of Cerner. "We remain optimistic about our ability to continue delivering solid results and good growth over the long term as healthcare is still in the early stages of driving value from digitization."

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