Home Business Quest Diagnostics beats revenue estimates on rebound in non-COVID testing By Reuters

Quest Diagnostics beats revenue estimates on rebound in non-COVID testing By Reuters


© Reuters.

(Reuters) -Quest Diagnostics Inc topped second-quarter revenue estimates on Thursday, pushed by a rebound in its non-COVID-19-related companies as extra People get vaccinated and pandemic-related restrictions raise.

Quest and its rivals Abbott Laboratories (NYSE:) and Becton Dickinson (NYSE:) have recorded enhancements of their non-COVID-19 companies as vaccinations velocity up and the economic system reopens.

That restoration has helped cut back their dependence on COVID-19 testing, which had introduced in billions of {dollars} in gross sales in 2020 however is predicted to taper off this 12 months.

Quest predicted in April its base enterprise would totally get better by the top of this 12 months.

Internet revenue attributable to the corporate rose to $631 million, or $4.96 per share, within the second quarter ended June 30, from $185 million, or $1.36 per share, a 12 months earlier.

Excluding gadgets, Quest earned $3.18 per share, beating analysts’ estimates of $2.87, in line with Refinitiv IBES knowledge.

Income elevated to $2.55 billion from $1.83 billion a 12 months in the past.


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