Thermo Fisher: 3Q Earnings Snapshot
WALTHAM, Mass. (AP) _ Thermo Fisher Scientific Inc. (TMO) on Wednesday reported third-quarter net income of $709 million.
The Waltham, Massachusetts-based company said it had profit of $1.75 per share. Earnings, adjusted for one-time gains and costs, were $2.62 per share.
The results surpassed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $2.55 per share.
The maker of scientific instrument and laboratory supplies posted revenue of $5.92 billion in the period, also topping Street forecasts. Six analysts surveyed by Zacks expected $5.7 billion.
Thermo Fisher expects full-year earnings in the range of $11 to $11.06 per share, with revenue in the range of $23.99 billion to $24.09 billion.
Thermo Fisher shares have risen 18 percent since the beginning of the year, while the Standard & Poor’s 500 index has risen 2.5 percent. The stock has risen 15 percent in the last 12 months.