On July 23, Thermo Fisher Scientific rose 8.84% in regular trading, trading at $581.505/share, with turnover of $428 million. The surge was driven by the company's Q2 earnings release before market open, which significantly exceeded analyst expectations.

Thermo Fisher reported Q2 adjusted EPS of $6.03, beating the consensus estimate of $5.71 by 5.6%, representing a 12.5% year-over-year increase from $5.36. Quarterly revenue reached $11.99 billion, up 10% year-over-year, surpassing the expected $11.70 billion. Operating profit came in at $2.09 billion, a 14% increase. All four core business segments posted positive growth, with Laboratory Products and Biopharma Services contributing $6.69 billion, up approximately 11.6%.

Management raised full-year revenue guidance to $47.4-$48.1 billion and projected Q3 adjusted EPS to exceed Q2 by 35-40 cents. Executives noted China returned to growth in Q2 and biotech client activity is converting into revenue. The strong results also repaired sentiment after the stock fell nearly 5% on July 21 following Danaher's 13% decline that pressured the broader life sciences sector.

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