Thermo Fisher Scientific Inc. (NYSE: TMO) on Wednesday announced fourth-quarter 2023 financial results, reporting higher adjusted earnings, despite a decrease in revenues.
Fourth-quarter revenues declined 5% annually to $10.89 billion, mainly reflecting weak performance by the Laboratory Products and Life Sciences Solutions segments.
Adjusted earnings, meanwhile, moved up to $5.67 per share in the December quarter from $5.40 per share a year earlier. The reported profit was $1.63 billion or $4.20 per share, compared to $1.58 billion or $4.01 per share in the prior-year quarter.