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financial guidance

The company missed analysts' consensus estimate for revenues but beat Wall Street expectations on the bottom line.

The firm said genomic testing volume rose 23 percent year over year, and raised its revenue guidance for full-year 2018.

The company reported $5.92 billion in revenues for the quarter, driven by growth across its four business segments.

Though the firm's total revenues were down year over year, its product and service revenue soared on sales of its ConfirmMDx Prostate cancer assay.

Within diagnostics, Beckman Coulter saw core revenue growth in the low-single digits, while Cepheid was up in the double digits for the quarter.

Molecular diagnostics revenues rose 5 percent driven in part by growth in infectious disease testing, a core area of diagnostic market focus for the firm.

The company said it saw record-setting growth in new products in fiscal 2018 with increasing reimbursement adding to its hereditary cancer business.

The firm's overall growth in the quarter was led largely by 9 percent growth in its Diagnostics and Genomics Group.

The company also said it launched a new comprehensive diagnostic called HeartCare for surveillance of heart transplant patients.

The decline was in line with what the company preliminarily reported last month, reflecting much lower collaboration revenues than in the prior year period.

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