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Tenet Healthcare stock rallies 6% after earnings beat

Economy, Finance

Shares of Tenet Healthcare Corp. rose more than 6% in the extended session Tuesday after the company reported fourth-quarter results that were above Wall Street expectations and said it continues to experience “operational and financial challenges” amid the pandemic. Tenet said it earned $414 million, or $3.86 a share, in the quarter, versus a loss of $3 million, or 3 cents a share, in the year-ago period. Revenue rose 2% to $4.92 billion. Analysts polled by FactSet expected earnings of $1.20 a share on sales of $4.84 billion. Tenet said it expects a “continuing recovery” from the pandemic and growth from operational improvements this year, guiding for adjusted EBITDA between $2.9 billion and $3.1 billion and adjusted EPS between $3.52 and $4.81. The stock ended the regular trading day down 1.4%.

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