Why Shares of Cerner Corp. Are Down Today
Shares of Cerner (NASDAQ: CERN), a provider of technology and solutions to the healthcare industry, slumped on Friday following the company's third-quarter report. Cerner missed analyst estimates across the board, and reported bookings that came in below expectations. The stock was down about 10% at noon EDT.
Cerner reported third-quarter revenue of $1.276 billion, up 7.6% year over year but $20 million below the average analyst estimate. System sales rose 7.6% to $324 million, while support, maintenance, and services rose 7.7% to $928 million. Total revenue was within the company's guidance range.
Image source: Cerner Corp.
Source: Fool.com
