Thermo Fisher's Q3 revenue increased by 9%, and epidemic-related revenue exceeded US$2 billion

Thermo Fisher Scientific reported before the market open on Wednesday that its third-quarter revenue increased by 9% year-on-year due to revenue growth in its three business units
.

In the three months ended October 2, the company's total revenue was 9.
33 billion U.
S.
dollars, higher than 8.
52 billion U.
S.
dollars a year ago, and also exceeded the average Wall Street analysts' expectations of 8.
39 billion U.
S.
dollars
.

The revenue of the Life Science Solutions segment increased from US$3.
42 billion in the same period last year to US$3.
72 billion, an increase of 9%
.

Marc Casper, President and CEO of Thermo Fisher Scientific, said: "Our strong performance in the third quarter is a testament to our growth strategy supported by the PPI business system
.

Casper pointed out that the pharmaceutical and biotechnology end markets grew by 20% in the third quarter, with outstanding performance in bioproduction, pharmaceutical services, chromatography and mass spectrometry
.

Geographically, revenue in North America was flat in the third quarter, Europe grew by 20%, while Asia-Pacific had low double-digit growth, with China growing at low single digits
.

Thermo Fisher’s third-quarter net income fell to US$1.
93 billion from US$1.
93 billion a year ago
.

The company's research and development costs increased by 19% compared with the same period last year, reaching 351 million U.
S.
dollars, while administrative expenses increased by 32% to 1.
73 billion U.
S.
dollars
.

For the full year of 2021, Thermo Fisher raises its revenue forecast to US$37.
1 billion
.

Casper said in the conference call that due to the growth of basic business and the continued strong response to the new crown epidemic, the company raised its revenue forecast
.
The updated forecast means that COVID-19-related revenue will reach $1.
05 billion in the fourth quarter
.