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KING OF PRUSSIA, Pa. - Universal Health Services (NYSE:UHS) reported first quarter earnings that beat analyst expectations, but revenue that fell short of estimates, sending shares down 2.2% in after-hours trading Monday.
The hospital operator posted adjusted earnings per share of $4.80, surpassing the analyst consensus of $4.36. However, revenue of $4.1 billion missed estimates of $4.16 billion.
Net income attributable to UHS rose to $316.7 million, or $4.80 per diluted share, compared to $261.8 million, or $3.82 per diluted share, in the same quarter last year.
Revenue increased 6.7% year-over-year to $4.1 billion, driven by growth in both the acute care and behavioral health segments. Same-facility revenue rose 6.5% in acute care and 5.5% in behavioral health.
The company repurchased approximately 1 million shares at an aggregate cost of $180.6 million during the quarter.
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