UPDATE: Thermo Fisher Scientific Posts Upbeat Q2 Earnings, Lifts Full-Year Forecast

Thermo Fisher Scientific

reported upbeat second-quarter earnings and lifted its full-year earnings outlook. Its quarterly net income declined to $233.8 million, or $0.63 per share, versus $523.4 million, or $1.36 per share, in the year-ago period. Excluding items, Thermo Fisher Scientific's adjusted profit came in at $1.22 per share, beating analysts' estimates of $1.16 per share. Its revenue climbed 9% to $3.11 billion. The company now expects full-year adjusted earnings of $4.74 to $4.84 a share, versus its earlier forecast of $4.71 to $4.83 per share. It cut its full-year revenue outlook to $12.14 billion to $12.26 billion, from $12.27 billion to $12.43 billion. However, analysts were expecting adjusted earnings of $4.79 per share on revenue of $12.33 billion. Thermo Fisher Scientific shares closed at $49.78 yesterday.