Thermo Fisher posts 10% revenue growth to $11.99B

• Thermo Fisher reported second-quarter revenue of $11.99 billion, up 10%, while organic revenue increased 5%.
• Adjusted EPS exceeded expectations, while Thermo Fisher shares rose 0.5% to $526.46 in premarket trading.
• The company launched new scientific instruments, expanded bioprocessing capabilities and repurchased $1 billion of shares.

Thermo Fisher Scientific (NYSE:TMO) reported second-quarter revenue of $11.99 billion, up 10%, as customer activity strengthened across its markets.

Revenue exceeded the $11.70 billion analyst estimate, while adjusted EPS of $6.03 topped the expected $5.71.

“Our end markets continue to strengthen and we're making great progress enhancing our capabilities,” said Thermo Fisher Chairman and CEO Marc Casper.

GAAP operating income rose 14% to $2.09 billion, while the related margin expanded 50 basis points to 17.4%.

Following the announcement the Thermo Fisher share price was up 0.5% at $526.46 in premarket trading.

Laboratory Products and Biopharma Services revenue rose nearly 12% to $6.69 billion, while Life Sciences Solutions gained 13%.

Thermo Fisher launched new Orbitrap platforms, opened a U.S. Bioprocess Design Center and repurchased $1 billion of stock.