Quest raises profit outlook after strong second quarter
Shares of laboratory operator Quest Diagnostics DGX.N rose 10% to $231.20.
The company raised its annual adjusted profit forecast to between $11.05 and $11.25 per share, compared with its previous expectation of $10.63 to $10.83.
Quest reported second-quarter adjusted profit of $3.12 per share, above analysts' average estimate of $2.84, according to data compiled by LSEG.
Second-quarter revenue of $3.04 billion beat analysts' expectation of $2.97 billion.
Barclays analysts said the results were "well above what was widely expected."
CEO Jim Davis said, "Revenues increased by over 10%, almost all from organic revenue growth across our physician, hospital and consumer channels."
Including the session's move, the stock was up about 32% year to date.
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