Why Community Health Systems Stock Is Jumping Today
Shares of Community Health Systems (NYSE: CYH) were 11.3% higher as of 1:08 p.m. EDT on Tuesday. The nice gain came after the hospital operator announced its second-quarter earnings results after the market closed on Monday.
You might think that Community Health Systems' Q2 results were fantastic based on the stock performance today. That wasn't really the case, though.
The company reported revenue of $3.3 billion, down 7.2% from the prior-year period. It also announced a net loss of $167 million, or $1.47 per share, on a generally accepted accounting principles (GAAP) basis. That result was worse than the GAAP net loss of $110 million, or $0.97 per share, posted in the same quarter of 2018.
Quelle Fool.com
