July 22 (Reuters) - Danaher ( DHR ) beat Wall Street

estimates for second-quarter profit and revenue on Tuesday,

driven by strong demand for its genetic testing services,

sending shares of the life sciences firm up nearly 8% in

premarket trading.

The company, however, expects revenue from its core business

to decline in the low-single-digit percent range in the third

quarter as it anticipates reduced demand to weigh on its

biotechnology and life sciences units.

Lifesciences firms have seen sluggish demand for their drug

development services as cash-strapped biotech clients try to

navigate a funding crunch amid high interest rates and

government scrutiny of drugmakers.

Analysts expect investment in early-stage biotechs to

improve this year as U.S. regulatory approval for innovative

therapies containing a novel active ingredient or molecule have

gone up over the past year.

On an adjusted basis, Danaher ( DHR ) reported a profit of $1.72 per

share for the second quarter, beating analysts' average estimate

of $1.57 per share, according to LSEG data.

The company's diagnostics business, which makes COVID-19 and

genetic testing kits, posted sales of $2.26 billion, topping

estimates of $2.15 billion.

Its life sciences unit, which provides reagents and lab

equipment used in the discovery of new drugs and vaccines,

posted sales of $1.77 billion, compared with estimates of $1.78

billion.

Danaher ( DHR ) reported sales of $5.74 billion for the quarter

ended June 28, beating analysts' estimates of $5.59 billion.