logo
Plus   Neg
Share
Email

QIAGEN Q2 Profit Tops Estimates; Sales Up 16%

QIAGEN N.V. (QGEN) reported that its second quarter adjusted earnings per share increased to $0.55 ($0.56 CER), from $0.33, last year. On average, ten analysts polled by Thomson Reuters expected the company to report profit per share of $0.46, for the quarter. Analysts' estimates typically exclude special items.

Second quarter total net sales rose 16% to $443.3 million from $381.6 million, last year. Growth was 19% at constant exchange rates (CER). Analysts expected revenue of $425.82 million for the quarter.

"The unprecedented demand for products used in coronavirus testing is driving QIAGEN's performance in 2020," said Thierry Bernard, CEO of QIAGEN N.V.

QIAGEN Boards have reaffirmed unanimous recommendation that the company's shareholders accept Thermo Fisher Offer and tender their shares on or before August 10.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Intel Corp. said it is probing into the hack of its fourth-quarter earnings report that prompted the chipmaker to release its earnings statement ahead of schedule. The company, which was scheduled to release the results after the market closed, released it before the market closing on Thursday. Google parent Alphabet decided to drop its Internet balloon project Loon that was launched with the idea of providing Internet access to rural areas and providing last mile connectivity. In a blog post, Loon CEO Alastair Westgarth said they have not found a way to get the costs low enough to build a long-term, sustainable business, despite gaining a number of interested partners along the way. American Airlines announced the launch of Flagship Cellars, its home delivery service for premium wines usually available onboard. The airline's move is said to be due to the excess wine it has amid the weakness in air travel demand following the coronavirus pandemic crisis. The company expects the new at-home wine program to generate about $40,000 to $50,000 in sales during the first quarter.
RELATED NEWS
Follow RTT