Thermo Fisher Scientific Q1 adjusted earnings Beat Estimates

(RTTNews) - Thermo Fisher Scientific (TMO) announced earnings for first quarter that dropped from the same period last year.

The company's earnings totaled $788 million, or $1.97 per share. This compares with $815 million, or $2.02 per share, in last year's first quarter.

Excluding items, Thermo Fisher Scientific reported adjusted earnings of $1.18 billion or $2.94 per share for the period.

Analysts had expected the company to earn $2.79 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 1.6% to $6.23 billion from $6.13 billion last year.

Thermo Fisher Scientific earnings at a glance:

-Earnings (Q1): $1.18 Bln. vs. $1.13 Bln. last year. -EPS (Q1): $2.94 vs. $2.81 last year. -Analysts Estimate: $2.79 -Revenue (Q1): $6.23 Bln vs. $6.13 Bln last year.