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Cerner: 2Q Earnings Snapshot

July 29, 2020 GMT

NORTH KANSAS CITY, Mo. (AP) _ Cerner Corp. (CERN) on Wednesday reported second-quarter net income of $134.7 million.

The North Kansas City, Missouri-based company said it had profit of 44 cents per share. Earnings, adjusted for one-time gains and costs, were 63 cents per share.

The results beat Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of 61 cents per share.

The health care information technology company posted revenue of $1.33 billion in the period, which did not meet Street forecasts. Ten analysts surveyed by Zacks expected $1.36 billion.

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For the current quarter ending in October, Cerner expects its per-share earnings to range from 70 cents to 74 cents.

The company said it expects revenue in the range of $1.35 billion to $1.4 billion for the fiscal third quarter. Analysts surveyed by Zacks had expected revenue of $1.45 billion.

Cerner expects full-year earnings in the range of $2.80 to $2.88 per share, with revenue ranging from $5.45 billion to $5.55 billion.

Cerner shares have declined slightly since the beginning of the year, while the Standard & Poor’s 500 index has climbed roughly 1%. In the final minutes of trading on Wednesday, shares hit $73.36, falling slightly 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