Tenet’s Profit Drops 1.6% in Second Quarter

Tenet Healthcare Corp., the second-biggest U.S. hospital chain, said Thursday that its fiscal second-quarter profit fell 1.6%, in line with expectations, as it wrestled with bad debt and a money-losing acquisition. The Santa Barbara-based company said earnings fell to $125 million, or 40 cents a share, in the quarter ended Nov. 30 from $127 million, or 41 cents, a year earlier, excluding a gain. Tenet was expected to earn 41 cents, the average estimate of analysts polled by First Call Corp.