AP NEWS

Cerner: 2Q Earnings Snapshot

August 2, 2018

NORTH KANSAS CITY, Mo. (AP) _ Cerner Corp. (CERN) on Thursday reported second-quarter profit of $169.4 million.

On a per-share basis, the North Kansas City, Missouri-based company said it had net income of 51 cents. Earnings, adjusted for one-time gains and costs, were 62 cents per share.

The results beat Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of 60 cents per share.

The health care information technology company posted revenue of $1.37 billion in the period, also exceeding Street forecasts. Eleven analysts surveyed by Zacks expected $1.33 billion.

For the current quarter ending in October, Cerner expects its per-share earnings to range from 62 cents to 64 cents.

The company said it expects revenue in the range of $1.34 billion to $1.39 billion for the fiscal third quarter. Analysts surveyed by Zacks had expected revenue of $1.35 billion.

Cerner expects full-year earnings in the range of $2.45 to $2.55 per share, with revenue ranging from $5.33 billion to $5.45 billion.

Cerner shares have fallen roughly 7 percent since the beginning of the year, while the Standard & Poor’s 500 index has risen roughly 6 percent. In the final minutes of trading on Thursday, shares hit $62.97, a fall of almost 2 percent in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CERN at https://www.zacks.com/ap/CERN

AP RADIO
Update hourly