Categories Earnings, Health Care

Allscripts (NASDAQ: MDRX): Q3 2019 Earnings Snapshot

— Allscripts Healthcare Solutions Inc. (NASDAQ: MDRX) reported its third-quarter 2019 adjusted earnings of $0.17 per share and GAAP loss of $0.03 per share. The results came in line with the analysts’ expectations.

— Revenue increased by 3% to $444 million and adjusted revenue rose by 1% to $445 million. This is compared to the consensus estimates of $450.16 million.

Earnings Update by AlphaStreet

— Bookings jumped by 19% to $236 million in the third quarter of 2019. Contract revenue backlog totaled $3.9 billion as of September 30, 2019.

— Looking ahead, the company expects revenue growth to improve as it benefits from the strategic investments across both its Provider and Veradigm businesses.

— For the full year 2019, the company narrowed its adjusted earnings guidance to the range of $0.67 to $0.70 per share from the previous range of $0.65 to $0.70 per share. The street’s view is $0.68 per share.

— Bookings are still anticipated to be in the range of $1.05 billion to $1.10 billion for the full year.

— Adjusted revenue outlook is reiterated in the range of $460 million to $470 million for the fourth quarter of 2019 versus the consensus estimates of $462.74 million.

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