Quest Diagnostics delivered record revenues for its fourth quarter and full year (end-December 30) due to high demand for COVID-19 testing.
For the fourth quarter, Quest posted revenue of $3 billion, up 56% compared with revenue of $1.9 billion in the same period the year before. The company's net income for the most recent period was $579 million, compared with a net income of $253 million in the fourth quarter of fiscal 2019.
For the full fiscal year, Quest posted net revenue of $9.44 billion, which is a 22% increase from 2019 when its net revenue was $7.7 billion. The company's net income for the full fiscal 2020 was $1.4 billion, compared with a net income of $838 million for the year before.