Thermo Fisher Scientific Q1 Profit Decreases, but beats estimates

(RTTNews) - 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.