Local Tech Wire

BURLINGTON, N.C. – Laboratory Corporation of America (NYSE: LH) beat Wall Street profit estimates by 4 cents a share, or $1.46, in the second quarter.

LabCorp, which has major operations in the Triangle, reported its latest financials early Wednesday.

The company also increased its profit and revenue guidance for the year.

“We are very pleased with our second quarter and year-to-date results, which reflect our ability to increase revenue and EPS through challenging economic conditions,” said David King, LabCorp’s chairman and chief executive officer, in a statement. “We will continue to focus on growing our revenue, automating and optimizing our business to reduce costs and improve the customer experience, and advancing our leadership position in personalized medicine.”

LabCorp said it now expects revenues to grow between 4.5 and 5.5 percent, up from 2.5-4.5 percent, and earnings to grow to $5.40-$5.55, up from $5.35-$5.55.

In the second quarter, LabCorp earnings rose to $153.7 million from $136.4 million a year ago. Revenues increased 4.2 percent to $1.24 billion.

For the earnings report,

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