RadNet (RDNT) stock jumped 5.40% in pre-market trading on Monday following the release of its first-quarter earnings report. The imaging services provider posted revenue that surpassed analysts' expectations, despite reporting a wider-than-anticipated loss per share.
According to the company's announcement, RadNet reported Q1 revenue of $471.399 million, significantly beating the consensus estimate of $442.98 million. However, the adjusted earnings per share (EPS) came in at a loss of 35 cents, which was more than the expected loss of 13 cents per share. Despite the earnings miss, investors appeared to focus on the strong revenue performance.
Dr. Howard Berger, President and Chief Executive Officer of RadNet, commented on the results, suggesting that the company may have provided positive guidance or highlighted growth areas that resonated with investors. The market's reaction indicates that RadNet's overall performance and outlook may be more robust than previously anticipated, driving the stock's pre-market surge.
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