Thermo Fisher Scientific Q1 Profit Decreases, but beats estimates

Thermo Fisher Scientific (TMO) reported earnings for first quarter that decreased from last year but beat the Street estimates.

The company's earnings totaled $2.22 billion, or $5.61 per share. This compares with $2.34 billion, or $5.88 per share, in last year's first quarter.

Excluding items, Thermo Fisher Scientific reported adjusted earnings of $2.86 billion or $7.25 per share for the period.

Analysts on average had expected the company to earn $6.18 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 19.3% to $11.82 billion from $9.91 billion last year.

Thermo Fisher Scientific earnings at a glance (GAAP) :

-Earnings (Q1): $2.22 Bln. vs. $2.34 Bln. last year.
-EPS (Q1): $5.61 vs. $5.88 last year.
-Analyst Estimates: $6.18
-Revenue (Q1): $11.82 Bln vs. $9.91 Bln last year.

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