Tenet Healthcare Shares Down 10% After Larger-than-expected Quarterly Loss

By Claudia AssisMarketsMarketWatch Pulse

Shares of Tenet Healthcare Corp. fell more than 10% late Monday after the company reported a larger-than-expected quarterly loss. Tenet reported a net loss of $55 million, or 55 cents a share, in the second quarter, compared with a net loss of $46 million, or 46 cents a share, a year ago. Sales reached $4.8 billion. Analysts polled by FactSet had expected Tenet to report a GAAP loss of 17 cents a share on sales of $4.9 billion in the quarter. The company said it expects full-year 2017 revenue of $19.1 billion to $19.4 billion. The analysts surveyed by FactSet expect sales of $19.8 billion for the year.

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