(By Balachander) HCA Holdings Inc. (NYSE:HCA) reported better-than-expected quarterly earnings, as higher patient volume and the consolidation of its HealthONE venture boosted growth in revenue and the health care services company backed its 2012 forecast.
Earnings per share (EPS) attributable to HCA were 85 cents for the second quarter, compared with 51 cents in the comparable period of last year, beating Wall Street projections of 78 cents.
Revenue rose 12 percent to $8.11 billion versus consensus estimate of $8.83 billion. On a same facility basis, revenue grew 3.8 percent.
Provision for doubtful accounts jumped 34 percent to $1.04 billion.
Looking ahead for the full year, HCA continues to expect adjusted EPS in the range of $3.57 to $3.77 on revenue between $32 billion and $33 billion, while analysts expect EPS of $3.69 on revenue of $35.56 billion.
Nashville, Tennessee-based HCA owns, manages, or operates hospitals, freestanding surgery centers, diagnostic and imaging centers, radiation and oncology therapy centers, among others.
The stock, which has been trading in the 52-week range of $17.03 to $31.39, ended Friday's regular trading at $26.60.