AP NEWS

Thermo Fisher: 3Q Earnings Snapshot

October 23, 2019 GMT

WALTHAM, Mass. (AP) _ Thermo Fisher Scientific Inc. (TMO) on Wednesday reported third-quarter net income of $760 million.

On a per-share basis, the Waltham, Massachusetts-based company said it had net income of $1.88. Earnings, adjusted for one-time gains and costs, were $2.94 per share.

The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $2.88 per share.

The maker of scientific instrument and laboratory supplies posted revenue of $6.27 billion in the period, also topping Street forecasts. Five analysts surveyed by Zacks expected $6.19 billion.

Thermo Fisher expects full-year earnings in the range of $12.28 to $12.34 per share, with revenue in the range of $25.34 billion to $25.5 billion.

Thermo Fisher shares have increased 26% since the beginning of the year, while the Standard & Poor’s 500 index has risen 20%. The stock has risen 24% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on TMO at https://www.zacks.com/ap/TMO