Thermo Fisher Scientific Q2 Profit Decreases, but beats estimates

(RTTNews) - Thermo Fisher Scientific (TMO) revealed a profit for second quarter that decreased from last year but beat the Street estimates.

The company's earnings came in at $1.66 billion, or $4.22 per share. This compares with $1.83 billion, or $4.61 per share, in last year's second quarter.

Excluding items, Thermo Fisher Scientific reported adjusted earnings of $2.17 billion or $5.51 per share for the period.

Analysts on average had expected the company to earn $4.99 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 18.3% to $10.97 billion from $9.27 billion last year.

Thermo Fisher Scientific earnings at a glance (GAAP) :

-Earnings (Q2): $1.66 Bln. vs. $1.83 Bln. last year. -EPS (Q2): $4.22 vs. $4.61 last year. -Analyst Estimates: $4.99 -Revenue (Q2): $10.97 Bln vs. $9.27 Bln last year.