Allscripts Healthcare Solutions Earnings: Here’s Why Investors are Not Excited Now
Allscripts Healthcare Solutions, Inc. (NASDAQ:MDRX) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 7.56%.
Allscripts Healthcare Solutions, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 18.75% to $0.13 in the quarter versus EPS of $0.16 in the year-earlier quarter.
Revenue: Decreased 6.8% to $344.8 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Allscripts Healthcare Solutions, Inc. reported adjusted EPS income of $0.13 per share. By that measure, the company beat the mean analyst estimate of $0.1. It missed the average revenue estimate of $357.22 million.
Quoting Management: “We achieved important milestones this quarter that strengthen Allscripts long-term market position,” said Paul M. Black, President and Chief Executive Officer of Allscripts. “While we have important work ahead of us to return Allscripts to sustainable, predictable top-line growth and improved profitability, this quarter’s achievements are certainly encouraging.”
Key Stats (on next page)…