Tenet Healthcare

(THC) - Get Report

beat Wall Street's expectations for the second quarter, which the company attributed to strong volume and pricing during the period.

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The company, based in Santa Barbara, Calif., earned 54 cents a share in the quarter, up from 43 cents in the year-ago period. Analysts polled by

First Call/Thomson Financial

expected the company to earn 50 cents a share.

Second-quarter revenue rose to $2.92 billion from $2.78 billion last year.

Shares of Tenet, a healthcare services company, lost $2.44, or 5.9%, to close at $39 at the end of regular session

New York Stock Exchange

trading.