Universal Health Services Shares Drop On Earnings, Outlook

Universal Health Services Inc. shares dropped in the extended session Tuesday after the hospital operator's earnings and outlook fell short of Wall Street estimates. Universal Health Services shares fell 6.4% to $115 after hours. UHS reported second-quarter earnings of $1.76 a share on revenue of $2.85 billion. Analysts surveyed by FactSet had forecast $2.06 a share on revenue of $2.86 billion. UHS lowered their full-year earnings outlook to a range of $7.50 to $8 a share from a previous range of $7.70 to $8.20 a share. Analysts estimated $7.97 a share.