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Athenahealth shares rise pre-market after its fourth quarter tops Wall Street forecasts

"At our upcoming Investor Summit, we plan to introduce our 2018 financial outlook, as well as provide an update on our plans to help healthcare organizations of all sizes reinvent workflows, advance connectedness, and achieve solid financial and clinical results”

Doctor
“We closed the year with strong financial performance during the fourth quarter."

Athenahealth Inc. (NYSE:ATHN) shares jumped in pre-market trade following the release of its fourth quarter results on Thursday, which beat market forecasts.

The medical records and hospital services company said in the fourth quarter, its net income came in at US$31.6mln, or 78 US cents a share, sharply higher from the US$9.8mln, or 24 US cents a share, recorded a year earlier.

Surpassed 100 mln patient threshold

Adjusted earnings stood at US$1.11 a share.

In the quarter, revenue was up at US$329.2mln from US$288.2mln a year ago.

The market had pencilled in 63 US cents a share on revenue of US$320mln

“We surpassed the 100 million patient threshold and now serve more than 100,000 healthcare providers,” said Jonathan Bush, chief executive officer of athenahealth.

Marc Levine, the CFO said: "At our upcoming Investor Summit, we plan to introduce our 2018 financial outlook, as well as provide an update on our plans to help healthcare organizations of all sizes reinvent workflows, advance connectedness, and achieve solid financial and clinical results.”

In premarket, its shares were up 5.68% at US$132.0.

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