October 27, 2021 -- Thermo Fisher Scientific reported a 9% increase in revenue for the third quarter of 2021, although its net income slipped slightly. The company saw its strongest growth in its laboratory products and services and analytical instruments segments.
Thermo Fisher Scientific reported a 9% increase in revenue for the third quarter of 2021, although its net income slipped slightly. The company saw its strongest growth in its laboratory products and services and analytical instruments segments.
For the period (end-October 2), Thermo Fisher's revenue grew 9% to $9.33 billion in the third quarter of 2021 compared to $8.521 billion for the same quarter of 2020. The company's net income was $1.902 billion for the third quarter of 2021 compared to $1.933 billion for the same period in 2020.
By market segment, the reported results are as follows.
| Thermo Fisher Q3 2021 results by market segment | ||
| Q3 2021 revenues | % change vs. 2020 | |
| Life sciences solutions | $3.721 billion | 9% |
| Lab products and services | $3.487 billion | 12% |
| Analytical instruments | $1.476 billion | 11% |
| Specialty diagnostics | $1.362 billion | -5% |
Additionally, Thermo Fisher announced that it had several product launches -- including a new mass spectrometer and a new polymerase chain reaction system that enables advancements in oncology, cell and gene therapies -- as well as other research during this quarter.
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