: DaVita’s stock gains after hours following earnings beat, outlook hike


DaVita Inc. DVA, +7.14% shares rose in the extended session Thursday after the dialysis center company topped Wall Street estimates, and hiked its forecast for the year. DaVita shares rose as much as 5% after hours, following a 0.4% decline in the regular session to close at $101.56. The company reported second-quarter net income of $178.7 million, or $1.91 a share, compared with $224.8 million, or $2.30 a share, in the year-ago period. Adjusted earnings, which exclude stock-based compensation expenses and other items, were $2.08 a share, compared with $2.30 a share in the year-ago period. Revenue rose to $3 billion from $2.93 billion in the year-ago quarter. Analysts surveyed by FactSet had forecast $1.71 a share on revenue of $2.95 billion. Also, DaVita hiked its earnings forecast for the year to a range of $7 to $7.80 a share, from a previous range of $6.20 to $7.30 a share. Analysts estimate $6.79 a share.

This article was originally published by Marketwatch.com. Read the original article here.

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