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.
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