Cerner Earnings: Here’s Why the Stock is Rising Now
Cerner Corp. (NASDAQ:CERN) 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 up 0.81%.
Cerner Corp. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 22.22% to $0.66 in the quarter versus EPS of $0.54 in the year-earlier quarter.
Revenue: Rose 6.05% to $680 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Cerner Corp. reported adjusted EPS income of $0.66 per share. By that measure, the company beat the mean analyst estimate of $0.63. It missed the average revenue estimate of $708.46 million.
Quoting Management: “We got off to a good start in 2013, with almost all key metrics above expected levels, including very strong bookings, earnings and cash flow,” Neal Patterson, Cerner chairman, CEO, president and co-founder said. “We expect 2013 to be a very good year, as we have a significant pipeline of opportunities both with existing clients and prospective clients. In addition, we are continuing to invest heavily in research and development to widen our competitive advantages and position ourselves for sustained growth throughout this decade.”
Key Stats (on next page)…