HCA - Why HCA Healthcare Trounced the Market on Tuesday
Even on a good day for the overall stock market, HCA Healthcare (NYSE: HCA) was a big winner on Tuesday. The hospital operator's latest quarterly results were a real cure for investor blues, with the stock closing a robust and S&P 500 index-crushing 14% higher.
The catalyst was HCA's second-quarter earnings, which the company released that morning. For the quarter, revenue came in at just over $14.4 billion, which was 30% higher on a year-over-year basis. That was due in no small part to a bounce-back in demand for healthcare services, which were affected by the coronavirus pandemic in 2020 as many would-be patients chose to delay non-essential surgeries at the time.
Net income, meanwhile, rose 34% to $1.45 billion ($4.36 per share).
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Why HCA Healthcare Trounced the Market on Tuesday