Community Health Systems Stock Gained 18% Thursday - Here's Why
Portfolio Pulse from Vandana Singh
Community Health Systems Inc (NYSE:CYH) reported better-than-expected Q2 earnings, leading to an 18% increase in its stock price. The company reported an adjusted EPS loss of $(0.22), beating the consensus of $(0.27) and much lower than $(2.52) a year ago. Q2 sales were $3.12 billion, beating the consensus of $3.04 billion. Adjusted EBITDA was $373 million compared to $253 million a year ago.
August 04, 2023 | 2:19 pm
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Community Health Systems Inc's better-than-expected Q2 earnings led to an 18% increase in its stock price.
Community Health Systems Inc reported better-than-expected Q2 earnings, which led to an increase in its stock price. This is because better-than-expected earnings generally lead to an increase in a company's stock price as it indicates that the company is performing well financially.
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