FRANKLIN, Tenn. (AP) _ Community Health Systems Inc. (CYH) on Wednesday reported fourth-quarter net income of $311 million, after reporting a loss in the same period a year earlier.
The Franklin, Tennessee-based company said it had profit of $2.57 per share. Earnings, adjusted for one-time gains and costs, came to 96 cents per share.
The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 18 cents per share.
The operator of accute care hospitals posted revenue of $3.12 billion in the period, also exceeding Street forecasts. Five analysts surveyed by Zacks expected $3.08 billion.
For the year, the company reported net income of $511 million, or $4.39 per share, swinging to a profit in the period. Revenue was reported as $11.79 billion.
Community Health Systems shares have increased 24% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $9.24, a rise of 96% in the last 12 months.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CYH at https://www.zacks.com/ap/CYH
Please read our comment policy before commenting.