10:08 AM EDT, 05/02/2024 (MT Newswires) -- Bruker ( BRKR ) shares fell more than 11% in Thursday morning trading after the company reported mixed Q1 results as earnings beat, but revenue fell short of analyst expectations.

The company reported Q1 non-GAAP net income of $0.53 per diluted share compared with $0.64 a year earlier.

Analysts polled by Capital IQ expected $0.46.

Revenue for the quarter ended March 31 was $721.7 million, up from $685.3 million a year earlier.

Analysts expected $729 million.

The diagnostic and analytic equipment company also increased its 2024 earnings and revenue forecasts to reflect recent acquisitions. It now is projecting non-GAAP EPS of $2.79 to $2.84 on revenue of $3.29 billion to $3.35 billion, up $0.08 per share and $60 million, respectively, over its prior guidance.

Analysts have been looking for a $2.73 per share profit on $3.27 billion in revenue this year.

Price: 70.25, Change: -8.78, Percent Change: -11.11