Reported 2 months ago
Labcorp reported stronger than expected Q2 earnings, driven by increased demand for diagnostic tests post-pandemic, prompting the company to raise its sales growth forecast for the year. However, it lowered its annual profit outlook due to costs associated with acquiring bankrupt genetic test maker Invitae. The diagnostics unit brought in $2.52 billion in sales, while total sales reached $3.22 billion, exceeding analyst estimates.
Source: YAHOO