Revvity raises annual profit, revenue forecasts on strong diagnostics demand

• The company now expects annual sales of $2.83 billion to $2.86 billion, compared with its previous forecast of $2.81 billion to $2.84 billion.
• Adjusted profit per share for the year is forecast between $5.30 and $5.40, compared with its prior view of $5.20 to $5.30. Analysts expect an annual adjusted profit of $5.27 per share.

• Revvity earned a quarterly adjusted profit per share of $1.41, beating analysts' estimates of $1.22, according to LSEG data.
• Its revenue for the quarter came in at $730 million, compared with estimates of $709.11 million.
• "As we enter the second half of the year, given the clear momentum in our end markets, we are utilizing a portion of recently received tariff refunds to increase investments across the business, capitalize on emerging opportunities, and support future growth," Revvity CEO Prahlad Singh said.

Aug. 4 (Reuters) - Medical equipment maker Revvity raised its annual profit and revenue forecasts on Tuesday, after topping Wall Street estimates for the second quarter helped by improving demand for its drug-development tools and diagnostic testing products.