Tenet Shares Rise After Quarterly Results Beat

Tenet Healthcare Corp. on Monday reported a loss of $61 million, or 61 cents a share, in the second quarter, compared with 27 cents a share a year ago. Adjusted for one-time items, the health care company said it earned 75 cents a share on sales of $4.49 billion in the quarter. Analysts polled by FactSet had expected adjusted earnings of 45 cents a share on sales of $4.38 billion. Tenet revised its outlook to adjusted earnings of $1.32 to $2.21 a share this year and adjusted earnings between 5 cents to 49 cents a share in the third quarter. The analysts surveyed by FactSet had expected adjusted 2015 earnings of $2.20 a share and adjusted earnings 38 cents in the third quarter. Shares of Tenet rose 2.3% in after hours Monday after ending the regular session up 0.7%.