Thermo Fisher Scientific Q2 Results Top Estimates - Quick Facts

(RTTNews) - Thermo Fisher Scientific Inc. (TMO) reported Wednesday net income for the second quarter grew to $1.16 billion or $2.90 per share from $1.12 billion or $2.77 per share in the prior-year quarter.

Excluding items, adjusted net income for the quarter was $1.55 billion or $3.89 per share, compared to $1.23 billion or $3.04 per share in the year-ago quarter.

On average, 16 analysts polled by Thomson Reuters expected the company to report earnings of $2.84 per share for the quarter. Analysts' estimates typically exclude special items.

Revenue for the quarter increased 10 percent to $6.92 billion from $6.32 billion in the same quarter last year. Analysts expected revenues of $6.13 billion. Organic revenue growth was 11 percent and currency translation decreased revenue by 1 percent.

The company had withdrawn its financial guidance for the full-year 2020 in April, due to the evolving COVID-19 pandemic and related customer impact.