A check tube labelled “COVID-19 Take a look at optimistic” is seen on this illustration image taken, March 10, 2021. REUTERS/Dado Ruvic/Illustration
Oct 21 (Reuters) – U.S. laboratory Quest Diagnostics Inc (DGX.N) on Thursday raised its full-year forecast for revenue and income and beat third-quarter estimates, on sturdy demand for its COVID-19 checks as a result of unfold of the virulent Delta variant in the US.
COVID-19 testing volumes within the U.S. had slumped within the first half of this 12 months, however demand rose as soon as once more in current months as a result of Delta variant, main employers and faculties to implement strict screening applications.
“We now have raised our outlook for the rest of the 12 months primarily based on larger than anticipated COVID-19 volumes,” the corporate stated.
Diagnostic corporations like Abbott Laboratories (ABT.N) have stated demand for COVID-19 checks rebounded in the course of the quarter. read more
The corporate raised its full-year income forecast to between $10.45 billion and $10.60 billion, from $9.84 billion to $10.09 billion, and full-year revenue outlook to $13.50 to $13.90, from $11.65 to $12.35.
Excluding gadgets, Quest earned $3.96 per share, beating analysts’ estimates of $2.88.
Internet earnings attributable to the corporate fell to $505 million, or $4.02 per share, within the quarter ended Sept. 30, from $568 million, or $4.14 per share, a 12 months earlier.
Shares of the corporate rose 3% earlier than the bell.
Reporting by Oishee Majumdar and Dania Nadeem in Bengaluru; Modifying by Shailesh Kuber
Our Requirements: The Thomson Reuters Trust Principles.
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