Shares of Thermo Fisher Scientific Inc. TMO, +2.66% surged 2.2% in premarket trading Monday, after the health care diagnostics and therapies company reported a big earnings beat and revenue that soared to more than $10 billion for the first time. Net income rose to $2.50 billion, or $6.24 a share, from $1.00 billion, or $2.49 a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share increased 100% to $7.09, well above the FactSet consensus of $6.56. Revenue grew 54% to $10.55 billion, beating the FactSet consensus of $9.58 billion. Among the company’s business segments, life sciences revenue rose 138% to $4.37 billion, above the FactSet consensus of $3.67 billion; specialty diagnostics revenue grew 109% to $1.97 billion to beat expectations of $1.48 billion; laboratory products revenue jumped 28% to $3.62 billion to beat expectations of $3.27 billion; and analytical instruments revenue increased 8% to $1.64 billion to top expectations of $1.54 billion. The stock has gained 7.7% over the past three months through Friday, while the S&P 500 SPX, -1.93% has gained 13.6%.
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