Athenahealth (ATHN) Stock Is Unmoved After Q2 Earnings Beat

Athenahealth (NASDAQ:ATHN) reported its latest quarterly earnings results late in the day to kick off the week, which did not move the company’s stock despite an earnings beat.

Athenahealth

For its second quarter of fiscal 2019, the healthcare technology company reported net income of $36.4 million, or 89 cents per diluted share. This is a considerable improvement over the company’s second-quarter net income for fiscal 2017 of $9.9 million, or 24 cents per share.

On an adjusted basis, Athenahealth brought in net income of $44.6 million, or $1.09 per diluted share. The Wall Street consensus estimate was calling for the company to bring in adjusted earnings of 91 cents per share, according to data compiled by Thomson Reuters in a survey.

The healthcare tech company also impressed in the revenue front as it brought in sales of $323.3 million, which is a 7.4% improvement over its $301.1 million from the company’s year-ago quarter. For the fiscal year 2018, Athenahealth projects that its revenue will be in the range of $1.335 billion to $1.365 billion.

“We are pleased to deliver strong financial results during the second quarter. We achieved double digit top-line growth on a comparable basis and significantly improved profitability and operating cash flow year-over-year. As a result, we are raising our fiscal 2018 earnings guidance,” said Marc Levine, chief financial officer of athenahealth.

ATHN stock fell about 1.4% during regular trading hours on Monday in anticipation of the company’s quarterly earnings results. Company shares were unmoved after the bell despite the earnings beat.


Article printed from InvestorPlace Media, https://investorplace.com/2018/07/athenahealth-athn/.

©2021 InvestorPlace Media, LLC