Tenet stock rises after earnings release

Shares of Dallas-based Tenet Healthcare climbed 13.5 percent in the extended session Feb. 25 after the major for-profit hospital operator saw its net loss narrow year over year and beat consensus expectations for revenue, according to financial markets website MarketWatch.

Tenet ended the fourth quarter of 2018 with a net loss attributable to shareholders of $5 million, compared to the $229 million net loss the company recorded in the same period a year prior.

Tenet saw its revenue slide in the fourth quarter of 2018 to $4.62 billion, down from $4.98 billion in the same period of 2017. However, that's above the $4.51 billion estimate from financial data and software company FactSet, according to MarketWatch.

The website states that Tenet stock overall has gained 25.6 percent in the last 12 months.

 

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