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Labcorp raises annual profit forecast on strong testing demand

First publishedJul 30, 12:31 UTC

Last updatedJul 30, 17:36 UTC · 1h ago

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Labcorp raises annual profit forecast on strong testing demand

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July 30 (Reuters) - Laboratory operator Labcorp raised its annual profit forecast and posted better-than-expected second-quarter results on Thursday, as steady demand for diagnostic testing and growth in its drug-development services business boosted performance. Shares of the company fell about 6% in premarket trading.

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Labcorp raised its annual profit forecast. It reported better-than-expected second‑quarter results. Steady demand for diagnostic testing and growth in drug‑development services helped the performance. Shares fell about 6% in premarket trading.

Why it matters

The update shows how the health‑testing sector is doing, which can affect investors and patients who rely on Labcorp’s services.

In brief

What did Labcorp do with its profit forecast?: Labcorp raised its annual profit forecast.
Why did Labcorp’s results improve?: Steady demand for diagnostic testing and growth in its drug‑development services boosted performance.
What happened to Labcorp’s shares after the announcement?: Shares fell about 6% in premarket trading.

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Labcorp raises annual profit forecast on strong testing demand
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Investing.com · Stock MarketJul 30, 12:31