HCA profit rises 38% in Q3

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Nashville, Tenn.-based HCA Holdings has raised its 2016 guidance after recording a 38 percent spike in profits in the third quarter.

The for-profit hospital operator said revenue increased 4.2 percent year over year, to $10.3 billion in the third quarter of 2016.

The financial boost in the third quarter was attributable, in part, to higher patient volumes. HCA said same-facility admissions rose 0.7 percent year over year, while same-facility emergency room visits increased 2.7 percent.

HCA ended the third quarter with net income of $618 million, up 38 percent from $449 million in the same period of 2015.  

Based on its strong third-quarter results, HCA slightly increased per-share earnings for the year to a range of $6.50 to $6.80.

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