Thermo Fisher projects 10% increase in Q2 sales

Thermo Fisher Scientific (NYSE:TMO) announced today that it estimates revenue growth for its recently ended second quarter to total approximately 10%.
Waltham, Mass.-based Thermo Fisher said in a news release that its reported and organic sales growth for the quarter (ended June 27) was primarily driven by global sales of PCR-based tests and other products and services supporting the response to the COVID-19 pandemic.
The company received FDA emergency use authorization and CE Mark approval for its SARS-CoV-2 diagnostic test in the early stages of the pandemic back in March. It confirmed that its response to COVID-19 contributed more than $1.4 billion in revenue to its second-quarter totals.
Thermo Fisher is set to release its full financial results for the quarter before the market opens on July 22 and will hold a conference call to discuss the results and provide a business update that day.
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