Sam Boughedda

Investing.com — Thermo Fisher Scientific Inc (NYSE:) stock jumped Thursday after its earnings report for the first quarter revealed earnings and revenue surpassed forecasts.

Company reported adjusted earnings per share of $7.25 on revenues of $11.82billion, surpassing estimates of $6.22 for revenue of $10.7billion.

Covid testing revenues during the quarter of $1.68 Billion bolstered the company’s earnings beat.

Marc Casper (chairman, president, chief executive officer at Thermo Fisher Scientific) described this quarter as one of exceptional performance.

“We started the year with great momentum, executing our proven growth strategy and continuing to be a trusted partner for our customers. Our PPD clinical research business is performing very well, the integration is going smoothly and we are even more excited about the opportunities we have to further enable the success of our pharma and biotech customers,” he added.

Thermo Fischer stock currently stands at 6.4%.