Earnings
Home›Earnings›Previews›Abbott and Thermo Fisher post mixed signals as life sc…
Abbott and Thermo Fisher post mixed signals as life sciences cycle shifts
Abbott reported a 42.0% jump in diagnostics sales to $3.09 billion, while Thermo Fisher pointed to improving customer activity across pharma and biotech markets.
Abbott Laboratories and Thermo Fisher Scientific offered investors different reads on where growth is coming from as both companies delivered quarterly updates, according to Yahoo Finance. Abbott continues to emphasize diversified performance across diagnostics, medical devices, and nutrition, while Thermo Fisher is positioned more around an improving backdrop for life sciences spending.
In Abbott’s fiscal Q2, the strongest growth driver came from diagnostics, with its cancer diagnostics platform benefiting from growth tied to colorectal cancer screening through Cologuard. Yahoo Finance said Abbott’s diagnostics segment sales rose 42.0% to $3.09 billion, slightly ahead of the $3.02 billion estimate.
Thermo Fisher’s quarter, by contrast, focused on signs that the life sciences downturn may be easing. Yahoo Finance reported that management highlighted improving customer activity across pharmaceutical and biotechnology markets, and noted that multiple operating segments returned to healthy growth, suggesting the recovery may be spreading beyond a single area.