Tenet Beats Estimates On Q1 Earnings, Sales

Tenet Healthcare Corp. said Monday that first-quarter net income was $47 million, or 47 cents a share, swinging from a loss of $32 million, or 33 cents a share, for the same period a year ago. Revenue for the hospital operator was $4.79 billion against last year's $4.31 billion. Adjusted income was 67 cents a share, more than double the 31 cents expected from analysts polled by FactSet. Sales were expected to reach $4.7 billion during the quarter. Shares ended regular trading up nearly 4% to $49.49, and tacked on another 1.5% to reach $50.50 in recent after-hours action.