CERN - Cerner shares rise after Q3 earnings beat

Cerner shares rise more than (CERN +3.6%) after posting third-quarter revenue and profit that beat Wall Street estimates, and talked up the progress of the company's cost cutting initiatives. Quarterly revenue increased 6.6% to $1.46B, beating analysts' average estimate by $10M. "The organizational transformation and productivity measures implemented earlier this year and additional on-going product focus and cost control initiatives are strengthening our business," CFO Mark Erceg said. The company expects fourth-quarter 2021 revenue to grow upper-mid-single digits compared to the same period last year. Also expects fourth quarter 2021 adjusted profit per share growth of 10% to 13% over the fourth quarter of 2020. Cerner, however, warned that while the company expects project and sales activity to continue improving, the COVID-19 pandemic could still cause unexpected impacts on future results. The company also posted adjusted quarterly profit of $0.86 per share, beating analysts' estimate by 4 cents. Previously (Oct.

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Cerner shares rise after Q3 earnings beat