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Thermo Fisher Stock Surges as Medical Device Maker's Results Top Estimates
Key Takeaways
Shares of Thermo Fisher Scientific ( TMO ) rose Thursday after the medical device maker's fourth-quarter results topped analysts' estimates.
Thermo Fisher reported revenue of $11.4 billion, up about 5% year-over-year and better than the $11.28 billion Visible Alpha consensus. Profit narrowly beat estimates at $1.83 billion, or $4.78 per share, up from $4.20 a year ago. Adjusted earnings per share (EPS) of $6.10 also topped expectations.
Sales increased across all four of the company's divisions, with revenue at its largest segment, Laboratory Products and Biopharma Services, rising 4%. Last quarter, shares fell as sales were flat or declined in two segments.
Thermo Fisher shares were up 6.6% intraday after entering Thursday roughly flat over the prior 12 months.
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