NASHVILLE, Tenn. (AP) — HCA Holdings Inc., the operator of the largest U.S. hospital chain, said Thursday its profit more than doubled in the first quarter on a revenue adjustment from Medicare and a decrease in one-time costs.
HCA said its profit grew to $540 million, or $1.18 per share, from $240 million, or 42 cents per share. In the first quarter of 2011 the company took a charge of $181 million, or 32 cents per share, after terminating a management agreement, and in the latest quarter, a Medicare revenue adjustment added $188 million to its revenue and 22 cents per share to its profit. Revenue rose 13 percent, to $8.41 billion from $7.41 billion.
Analysts expected HCA to report a profit of 96 cents per share and $8.38 billion in revenue, according to FactSet.
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