Tenet Healthcare revenue misses estimates, shares slump
Tenet Healthcare Corp's quarterly revenue fell for the first time in six years missing estimates, hurt by weak demand and the hospital operator forecast lower-than-expected full year earnings. Tenet's shares fell 10 percent in extended trading on Monday. The third largest for-profit U.S. hospital operator, which had long-term debt of about $15 billion as of Dec. 31, has been cutting costs and selling hospitals, focusing on raising its hospital unit margins to turn its business around. Tenet said its adjusted admissions, which include both ...
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