Healthcare DIVE July 30, 2021
Dive Brief:
- Cerner beat Wall Street expectations on earnings and revenue in second-quarter results released Friday, reporting a topline of $1.5 billion, up almost 10% year over year, though net income plummeted as restructuring charges dragged on the health IT giant’s margin.
- Management chalked the revenue growth up to Cerner’s ongoing business improvement initiatives and a strengthening market presence, though the year-over-year hike was also due to the second quarter last year including the biggest hit on Cerner’s business from COVID-19.
- The Kansas City, Missouri-based EHR vendor raised its full-year earnings guidance following the results, while its 2021 revenue forecasts remained unchanged. Cerner expects revenue growth in the mid-single digits, implying the majority of growth in the fourth quarter,...
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