By Matt Grossman
Thermo Fisher Scientific Inc.'s second-quarter sales and earnings figures came in above analysts' expectations, as the company recorded double-digit sales growth across its business segments compared with the pandemic-affected year-earlier period.
The Waltham, Mass.-based scientific-equipment company Wednesday posted earnings of $4.61 a share, a rise from $2.90 a share. Net income rose to $1.83 billion from $1.16 billion, it said.
Stripping out one-time items, the company's adjusted profit was $5.60 a share. Analysts surveyed by FactSet had forecast an adjusted profit of $5.47 a share.
Revenue climbed to $9.27 billion from $6.92 billion, the company said. Analysts had been anticipating revenue of $8.73 billion. Organic revenue growth was 28%, with a 2% contribution from acquisitions.
Life-sciences solutions sales grew 37% to $3.56 billion, and sales of lab products and services rose 29% to $3.58 billion. Analytical-instrument sales were up 41% at $1.48 billion, while specialty-diagnostics sales climbed 25% to $1.24 billion, the company said.
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(END) Dow Jones Newswires
July 28, 2021 06:59 ET (10:59 GMT)Copyright (c) 2021 Dow Jones & Company, Inc.