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Cerner reports $1 5B in revenue, raises full-year guidance
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Cerner s Q2 revenue up 9% to $1 5B, operating earnings down 66%
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Published May 6, 2021
Dive Brief:
Cerner CEO Brent Shafer is stepping down once a successor is found, the EHR vendor announced Wednesday as it released its first-quarter earnings report.
The company reported Q1 revenue of $1.4 billion, down 2% year over year as a result of divestitures and the ongoing effects of the COVID-19 pandemic. That figure was below Wall Street expectations, but earnings numbers were a beat. Bookings were up 13% year over year to $1.2 billion.
Cerner expects second-quarter revenue growth in the high-single digits and full-year growth in the mid-single digits. It also announced a $3.8 billion share repurchasing program.
Dive Insight:
Shafer, 63, began his tenure as Cerner CEO in February 2018 after stints at Philips, GE Medical Systems, Hill-Rom and Intermountain. His base annual salary was $800,000 with a $1.2 million bonus potential, according to the most recent filing with the U.S. Securities and Exchange Commission.
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