CERN - Cerner raises 2021 earnings guidance as topline growth returns

Cerner Corporation (NASDAQ:CERN) is trading higher in morning hours after the company’s revenue and adjusted earnings beat Street forecasts. Reversing four back-to-back quarters of decline, the top-line jumped 10% YoY to $1.5B in Q2 2021 which according to CEO Brent Shafer indicated the progress made by Cerner on “transformation initiatives and a strengthening market presence.” Meanwhile, the adjusted diluted EPS rose 27% YoY to $0.80, while GAAP diluted EPS rose 75% YoY backed by $400M worth of share buybacks during the quarter. Having completed $350M share buybacks in Q1 2021, the company now projects its share repurchases during 2021 to reach $1.5B. Meanwhile, CFO Mark Erceg highlighted the cost containment efforts implemented by the company to increase the return of its $800M of annual R&D investments. "We also spent $400 million on share repurchases, which brings our year-to-date purchases to $750 million, because we continue to believe that Cerner stock, at current

For further details see:

Cerner raises 2021 earnings guidance as topline growth returns