DALLAS (AP) _ Tenet Healthcare Corp. (THC) on Monday reported first-quarter net income of $93 million, after reporting a loss in the same period a year earlier.
The Dallas-based company said it had net income of 88 cents per share. Earnings, adjusted for one-time gains and costs, came to $1.28 per share.
The results topped Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 24 cents per share.
The hospital operator posted revenue of $4.52 billion in the period, falling short of Street forecasts. Eight analysts surveyed by Zacks expected $4.62 billion.
Tenet shares have declined 53% since the beginning of the year, while the Standard & Poor's 500 index has fallen 12%. In the final minutes of trading on Monday, shares hit $17.96, a decrease of 15% in the last 12 months.