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Community Health posts quarterly loss, hurt by charge
May 1, 2017 / 8:50 PM / 6 months ago

Community Health posts quarterly loss, hurt by charge

(Reuters) - Community Health Systems Inc (CYH.N) reported a quarterly loss, compared with a year-ago profit, largely due to a charge related to its sale of businesses.

The for-profit U.S. hospital operator said its net loss available to shareholders was $199 million, or $1.79 per share, compared with a net profit of $11 million, or 10 cents per share, a year earlier.

Excluding items, the company earned 7 cents per share.

Net operating revenue fell 10.3 percent to $4.49 billion.

Community Health has been looking to turn its business around by selling off some of its assets in the past few months to ease its debt load.

Reporting by Ankur Banerjee and Sweta Singh in Bengaluru; Editing by Maju Samuel

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