Thermo Fisher Beats Estimates on Biopharma Growth
The company reported first-quarter revenue of $11.01 billion and earnings of $5.44 per share. Growth in laboratory products offset weak diagnostic sales.
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THERMO FISHER SCIENTIFIC INC exceeded Wall Street expectations for both profit and revenue in the first quarter, driven by robust performance in its laboratory products and biopharma services division. Despite the positive financial results, shares of the United States-based company dropped 3.1% in premarket trading as investors weighed broader industry challenges.
