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Dive Brief: The COVID-19 pandemic continues to drag on Ascension s operational performance, but government relief funds and hefty investment returns yanked the nation s largest nonprofit system back into the black in its latest fiscal quarter. For the period ended March 31, the St. Louis-based Catholic giant reported operating revenue of $6.6 billion, up 7% year over year. However, expenses also ticked up on a year-over-year basis to $6.6 billion, driving the system to an operating loss of $16.7 million. That s still an improvement over Ascension s $429 million operating loss in the same time last year. However, large investment returns drove Ascension to an income of $957 million in the quarter, compared to a whopping net loss of $2.7 billion at the same time last year.

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