Tenet Healthcare revenue misses estimates, shares slump

CNBC | on Tue, Feb 28, 8:58 AM

Tenet Healthcare[1] quarterly revenue fell for the first time in six years missing estimates, hurt by weak demand and the hospital operator forecast lower-than-expected full year earnings. Tenet's shares fell more than 11 percent in premarket trading on Tuesday. The third-largest for-profit U.S. hospital operator, which had long-term debt of about $15 billion as of Dec. 31, has been cutting costs and selling hospitals, focusing on raising its hospital unit margins to turn its business around....

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