J.P. Morgan Reports Solid 1Q Results For Cerner

According to J.P. Morgan, Cerner

put up a solid 1Q, with bookings up 30% y/y to $525M, $70M ahead of expectation. J.P. Morgan said that EPS of $0.80 was $0.04 ahead of estimate and $0.03 ahead of Bloomberg consensus, with $0.02 of the upside coming from a lower tax rate. “The strong results are partly driven by an uptick in overall activity in the underlying market, which should help EHR players in our coverage universe, namely MDRX and QSII.” Cerner closed yesterday at $112.09.