Community Health Systems Inc (CYH.N), the hospital operator that wants to buy rival Tenet Healthcare Corp (THC.N), reported quarterly earnings above analysts' expectations as operating revenue increased. Net income declined to $61.3 million, or 67 cents a share, from $70.0 million, or 75 cents a share, a year ago, due to impairment charges for a hospital that is for sale and a loss on the sale of a physician clinic, the company said. Community Health, the second-largest U.S. hospital operator, said earnings from continuing operations were 80 cents a share. On that basis, analysts on average expected 79 cents a share, according to Thomson Reuters I/B/E/S.
Community Health Systems, Inc. is an operator of hospitals in the United States. Shares of CYH traded higher by 2.02% or $0.62/share to $31.35. In the past year, the shares have traded as low as $22.33 and as high as $42.50. On average, 3537130 shares of CYH exchange hands on a given day and today's volume is recorded at 3478985.
Tenet Healthcare Corporation (Tenet) is an investor-owned company that operates in one line of business: the provision of health care services through the operation of acute care hospitals and related health care facilities. Shares of THC traded higher by 0.58% or $0.04/share to $6.94. In the past year, the shares have traded as low as $3.92 and as high as $7.70. On average, 9915620 shares of THC exchange hands on a given day and today's volume is recorded at 7009776.
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