(Reuters) – Thermo Fisher Scientific Inc on Thursday posted quarterly profit that nearly tripled, helped by increased demand for its COVID-19 tests and a jump in sales at its life sciences unit.
The company said net income rose to $2.34 billion, or $5.88 per share, for the first quarter ended April 3, from $788 million, or $1.97 per share, a year earlier.
Sales at Thermo Fisher’s specialty diagnostics unit, which makes tests for COVID-19, rose 68.6% to $1.62 billion.
Revenue at the company’s life sciences solutions unit, which makes tools and compounds used in medical research, rose to $4.20 billion from $1.77 billion a year earlier.
Thermo Fisher’s quarterly revenue rose 59% to $9.91 billion.
(Reporting by Dania Nadeem in Bengaluru; Editing by Ramakrishnan M.)
