Cerner Revenue, Earnings Rise

Kansas City-based healthcare-tech giant Cerner reported that it had increases in sales and earnings during its first quarter, despite impacts other businesses have sustained during the COVID-19 pandemic.

However, executives lowered their earnings-per-share guidance for the year to between $2.78 and $2.90, down from a prior range of $3.09 to $3.19.

First-quarter revenue rose two percent year over year, hitting $1.41 billion. Net earnings were $223 million, a rise from $199 during the first quarter of 2019.

“While we expect the pandemic to continue affecting our results, we currently believe that the largest impact will occur in second quarter 2020 and expect resiliency in our future financial performance,” said Brent Shafer, Cerner’s  chairman and chief executive officer.

Read the full financial report here.