© Reuters. FILE PHOTO: A logo of drugs and chemicals group Merck KGaA is pictured in Darmstadt, Germany January 28, 2016. REUTERS/Ralph Orlowski
FRANKFURT (Reuters) – German healthcare and chemicals group Merck KGaA on Thursday reported better-than-expected quarterly earnings on higher revenues from pharmaceuticals and biotech lab equipment.
Third-quarter earnings before interest, taxes, depreciation and amortisation (EBITDA), adjusted for one-offs, rose 16.7% to 1.81 billion euros, surpassing the average estimate of 1.78 billion euros in an analyst poll on the company’s website.
The diversified group narrowed its full-year target range for adjusted EBITDA to between 6.80 billion and 7.20 billion euros, where it had previously forecast 6.75 billion to 7.25 billion.
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