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NEW YORK – Laboratory Corporation of America on Tuesday reported 33 percent year-over-year revenue growth for the third quarter.

Total revenues for the three months ended Sept. 30 were $3.90 billion, up from $2.93 billion in the third quarter of 2019, and above the consensus Wall Street estimate of $3.63 billion.

Growth was driven by a recovery in baseline testing along with continued demand for SARS-CoV-2 testing. Organic revenues grew 32 percent with acquisitions contributing 1 percent and favorable foreign currency translation contributing less than 1 percent.

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