Merck reported another estimate-beating quarter. We hope investors will not be too upset when Merck’s performance no longer meets expectations. This might take quite a while as a second driver has joined Performance Solutions: Semiconductor Solutions. The latter seems to be able to stabilise its high growth rates. Healthcare lagged behind more than expected.
Our estimates were beaten by +5.5% at the top line and by +9.9% at the adjusted EBITDA level (consensus: +2.7% and +4.5%, respectively).
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Two are better than one
Merck reported another estimate-beating quarter. We hope investors will not be too upset when Merck’s performance no longer meets expectations. This might take quite a while as a second driver has joined Performance Solutions: Semiconductor Solutions. The latter seems to be able to stabilise its high growth rates. Healthcare lagged behind more than expected.
Our estimates were beaten by +5.5% at the top line and by +9.9% at the adjusted EBITDA level (consensus: +2.7% and +4.5%, respectively).