Oct 22 (Reuters) - Danaher ( DHR ) on Tuesday beat Wall

Street estimates for third-quarter profit on strong demand for

its diagnostics and bioprocessing businesses, alongside growth

in its molecular testing unit.

Shares of the life sciences company rose 2.5% to $278 before

the bell.

However, the Washington, D.C.-based company expects a

low-single-digit decline in its fourth-quarter adjusted revenue

year-over-year.

High interest rates have forced biotech companies, clients

of life science firms, to reduce spending since 2023, but recent

interest rate cuts give some analysts hope for a near-term

turnaround, as borrowing costs might ease.

On October 17, the company's German peer Sartorius

posted better-than-expected results for nine months on the rise

of bioprocessing orders.

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

genetics testing kits, posted sales of $2.36 billion, topping

estimates of $2.19 billion.

Its life sciences unit, which provides reagents and lab

equipment used in the discovery of new drugs and vaccines,

posted sales of $1.78 billion, compared with estimates of $1.76

billion.

Danaher ( DHR ) said it saw strength in its molecular testing unit

Cepheid which gained market share this quarter.

Danaher ( DHR ) reported third-quarter revenue of $5.8 billion,

beating analysts' estimates of $5.60 billion.

On an adjusted basis, Danaher ( DHR ) reported a profit of $1.71 per

share for the third quarter, beating analysts' average estimates

of $1.57 per share.