Home / Markets / Industries / Health Care
Tuesday, November 03, 2009
Tenet Healthcare Reports 3Q Loss
FOXBusiness
Tenet Healthcare (THC) reported a third quarter loss due to paying down debt and absorbing bad debts owed to its hospitals. On the bright side, the hospital operator adjusted its 2009 profit prediction by $25 million to the positive, for a total of $925 million to $975 million.
Revenue increased by 5.7% to $2.26 billion, and was up by 5.2% on a same-hospital basis. Meanwhile, commercial managed-care revenue grew 4.2%. Admissions increased by 0.1%, while commercial managed care admissions dropped 4.5%.
In total, Tenet reported an operating loss of $3 million, or 1 cent per share, compared with profit from the previous year of $104 million, or 22 cents per share.
Fox Business Video
-
-
The Crisis With 20/20 Hindsight
-
Nov 21, 2009
FOXBusiness.com LIVE
-
-
-
Jerry Rice Talks Career
-
Nov 21, 2009
NFL Receiver on career on the gridiron
-
-
-
John O'Hurley as Venture Capitalist
-
Nov 21, 2009
Comedian on life as venture capitalist
-
-
-
Excess Spending in Congress
-
Nov 21, 2009
Saving $100 Million
-
-
-
Cavuto Business Report 11-20-09
-
Nov 21, 2009
Business Report: Cavuto
-
