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Feb. 24, 2020, 4:54 p.m. EST

Tenet Healthcare Q4 sales top forecasts

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By Micah Maidenberg

Tenet Healthcare Corp. beat analysts' revenue forecasts for the fourth quarter.

The operator of hospitals and other healthcare facilities said total revenue grew 4% from the year earlier to $4.81 billion. Analysts polled by FactSet expected $4.76 billion in revenue.

Shares of Tenet gained 4% to $34 a share.

Tenet reported a net loss attributable to common shareholders of $2 million, or 2 cents a share, compared with a loss of $5 million, or 5 cents a share, a year earlier. Higher costs for salaries, supplies and income taxes weighed on results.

Tenet's adjusted profit from continuing operations of 99 cents was a penny higher than forecasts from analysts.

The Dallas-based company said its hospital business same-hospital admissions and adjusted admissions grew 2.6% in the quarter on a same-hospital basis.

Write to Micah Maidenberg at micah.maidenberg@wsj.com

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