FRANKLIN, Tenn. (AP) _ Community Health Systems Inc. (CYH) on Tuesday reported first-quarter net income of $18 million, after reporting a loss in the same period a year earlier.
The Franklin, Tennessee-based company said it had profit of 15 cents per share. Losses, adjusted for one-time gains and costs, were $1.59 per share.
The results fell short of Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 53 cents per share.
The operator of accute care hospitals posted revenue of $3.03 billion in the period, which also did not meet Street forecasts. Six analysts surveyed by Zacks expected $3.18 billion.
In the final minutes of trading on Tuesday, the company's shares hit $3.64. A year ago, they were trading at $3.62.