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Cerner: 3Q Earnings Snapshot

October 28, 2020 GMT

NORTH KANSAS CITY, Mo. (AP) _ Cerner Corp. (CERN) on Wednesday reported third-quarter net income of $356.7 million.

On a per-share basis, the North Kansas City, Missouri-based company said it had profit of $1.16. Earnings, adjusted for one-time gains and costs, were 72 cents per share.

The results surpassed Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of 71 cents per share.

The health care information technology company posted revenue of $1.37 billion in the period, which matched Street forecasts.

For the current quarter ending in December, Cerner expects its per-share earnings to range from 76 cents to 80 cents.

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The company said it expects revenue in the range of $1.37 billion to $1.42 billion for the fiscal fourth quarter. Analysts surveyed by Zacks had expected revenue of $1.37 billion.

Cerner shares have dropped 3% since the beginning of the year, while the Standard & Poor’s 500 index has increased slightly more than 2%. The stock has climbed slightly more than 5% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CERN at https://www.zacks.com/ap/CERN