Lab Equipment Provider Thermo Fisher's Stock Falls On Revised Q4 Outlook, CEO Cites Challenging Environment
Portfolio Pulse from Anusuya Lahiri
Thermo Fisher Scientific Inc (TMO) reported Q3 revenue of $10.574 billion, down 1% Y/Y, missing the consensus of $10.595 billion. Adjusted EPS of $5.69 beat the consensus of $5.61. The company revised its full-year revenue and adjusted EPS guidance due to the current macroeconomic environment. TMO shares are down 5.67% at $432.31.
October 25, 2023 | 7:10 pm
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Thermo Fisher's Q3 revenue missed consensus and the company revised its full-year guidance downwards. This news led to a drop in TMO's share price.
Thermo Fisher's Q3 revenue fell short of consensus estimates and the company also revised its full-year guidance downwards due to the challenging macroeconomic environment. This negative news has led to a drop in the company's share price, indicating a negative short-term impact.
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