Shares of AMN Healthcare Services Inc (NYSE: AMN) plummeted over 6% in after-hours trading on Tuesday, despite the company reporting better-than-expected third-quarter earnings and revenue.
The healthcare staffing and workforce solutions provider reported adjusted earnings per share of $0.61, surpassing the consensus estimate of $0.57. Additionally, revenue came in at $687.5 million, beating analysts' expectations of $671.4 million. However, the top line marked a significant 19.44% decline compared to the same period last year.
While AMN Healthcare exceeded Wall Street's expectations, the steep year-over-year revenue decline appears to have raised concerns among investors, overshadowing the earnings beat. The revenue drop could be attributed to various factors, such as a potential slowdown in demand for healthcare staffing services, increased competition, or changes in industry dynamics.
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