Athenahealth Earnings: Here’s Why the Stock is Up Now
Athenahealth, Inc. (NASDAQ:ATHN) had a loss and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 0.1%.
Athenahealth, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased to $-0.08 in the quarter versus EPS of $0.24 in the year-earlier quarter.
Revenue: Rose 44.22% to $149.3 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Athenahealth, Inc. reported adjusted EPS loss of $0.08 per share. By that measure, the company missed the mean analyst estimate of $0.22. It beat the average revenue estimate of $148.22 million.
Quoting Management: “The fruits of our labor are showing. This past quarter we delivered meaningful achievements that are immensely important to the future of our business. We added Ascension Health – the largest non-profit health system in the country – to our client list. This milestone shows that the values of the cloud are universal across provider groups of all sizes,” said Jonathan Bush, the Company’s Chairman and Chief Executive Officer. “Likewise, athenaClinicals was recognized as the ‘most usable’ EHR in the ambulatory space and our work with Epocrates moves forward, setting the future of our mobile vision. Finally, we keep growing, not only across the network, but across the various locations from which our teams work.”
Key Stats (on next page)…