Waters Shares Rise 6% Despite Lower Q3 Profit

(RTTNews) - Waters Corp. (WAT) shares climbed 6.7 percent to $368.65 on Tuesday after the analytical instruments maker reported third-quarter results that beat market expectations on an adjusted basis and raised its full-year outlook.

The company posted net income of $148.9 million, or $2.50 per share, compared with $161.5 million, or $2.71 per share, a year earlier. Adjusted earnings rose to $3.40 per share from $2.93 per share, topping Wall Street estimates. Revenue also came in above expectations.

The stock opened at $351.72 and traded between $351.94 and $382.02 during the session on the New York Stock Exchange. It was last seen at $368.65, up from a previous close of $345.59. Trading volume reached about 819,000 shares, higher than the average of 677,000.

Waters shares have traded between $275.05 and $423.56 over the past 52 weeks.