Cerner quarterly revenue grows 14%, profit grows 36%

Listen
Text
  • Small
  • Medium
  • Large

Though Cerner reported an increase in revenue in the first quarter of 2016 compared to the first quarter of 2015, revenue fell short of the company's guidance range.

Cerner reported $1.14 billion in revenue in the first quarter, a 14 percent year-over-year growth from $99.6 million during the same time last year. Revenue was approximately $10 million below Cerner's guidance range, which the company partially attributed to a decline in low-margin technology resale revenue.

Cerner posted $150 million in profit for the quarter, up 36 percent from the previous year's profit of $110 million.

"Our first quarter results reflect a good start to the year," said Zane Burke, Cerner president, in an earnings statement. "We continue to have great success at gaining new clients, which is a reflection of a robust replacement market and our competitiveness. We also had success at selling solutions beyond the EHR, with record levels of revenue cycle sales and continued success at selling our cloud-based HealtheIntent population health solutions both inside and outside our EHR installed base."

More articles on health IT:

EHR replacements causing more harm than good, survey finds: 10 key findings
17 most innovative healthcare companies, as ranked by InformationWeek
5 recent vendor contracts, go-lives

 

Copyright © 2022 Becker's Healthcare. All Rights Reserved. Privacy Policy. Cookie Policy. Linking and Reprinting Policy.

 

Featured Whitepapers

Featured Webinars