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New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
- Cerner Corp (NASDAQ:CERN) reported second-quarter FY21 revenue growth of 10% year-on-year to $1.46 billion, beating the analyst consensus of $1.44 billion.
- Revenues from Licensed software rose 15.1% Y/Y to $175.1 million, Technology resale climbed 35% Y/Y to $56.9 million, Subscriptions increased 6.9% Y/Y to $98.4 million, Professional services expanded 16.5% Y/Y to $537.1 million, Managed services improved 4.4% Y/Y to $320.8 million, Support and maintenance declined 5.2% Y/Y to $259.7 million and Reimbursed travel increased 405.9% Y/Y to $8.8 million.
- The adjusted operating margin expanded 220 bps to 20.6%.
- Adjusted EPS of $0.8 beat the consensus of $0.76.
- Cerner generated $369 million in operating cash flow and held $884.9 million in cash and equivalents.
- Cerner performed a sizable reduction in force, took specific measures to shrink physical (office space) footprint, and made some critical product rationalization decisions to improve the return on nearly $800 million annual R&D. It also repurchased shares worth $400 million.
- Outlook: Cerner sees Q3 revenue of $1.45 billion below the analyst consensus of $1.48 billion and an adjusted EPS growth of $0.81-$0.83 versus an analyst consensus of $0.82.
- Price action: CERN shares are trading 1.16% higher at $79.44 on the last check Friday.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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