Cerner misses earnings and revenue expectations despite an increase in bookings
Despite boosts from a VA contract and near-record bookings in the fourth quarter, Cerner’s earnings took a dip last year and fourth-quarter revenue came in slightly below expectations.
CEO Brent Shafer, who took the helm only a year ago, said during an earnings call on Tuesday that the company had plans in place to increase profitability and predictability.
The company reported fourth-quarter 2018 revenue of $1.36 billion. That was up 4% compared to fourth-quarter 2017’s revenue of $1.31 billion but fell short of the low range of its own guidance of $1.37 billion. Annual revenue also increased by 4% to $5.36 billion in 2018.