RTTNews | Oct 27, 2021 06:18AM EDT

06:18 Wednesday, October 27, 2021 (RTTNews.com) - Thermo Fisher Scientific (TMO), while reporting weak third-quarter profit and higher revenues, on Wednesday raised its 2021 revenue and earnings guidance, above market estimates.

The company raised its adjusted earnings per share guidance by $1.30 to $23.37, which would represent 20 percent growth year over year. The company previously expected adjusted earnings per share of $22.07, a 13 percent growth.

Thermo Fisher also lifted revenue guidance by $1.2 billion to $37.1 billion, representing a 15 percent revenue growth over 2020. The previous revenue guidance was $35.90 billion, a growth of 11 percent.

On average, analysts polled by Thomson Reuters expect earnings of $22.19 per share on revenues of $36.09 billion. Analysts' estimates typically exclude special items.

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