Agilent Technologies Inc (NYSE:A) stock fell 2.46% (As on March 1, 11:06:55 AM UTC-4, Source: Google Finance) after the company posted better than expected results for the first quarter of FY 23. Operating margin in the quarter at 27.1% up 80 basis-points. The Life Sciences and Applied Markets Group delivered revenues of $1.03 billion, up 11% core. LSAG delivered growth across all end-markets and regions. The LC and LC/MS platforms continue their strong performance during the quarter. Growing faster than the market at 16%. Demand in The Chemicals and Advanced Materials end-market continues to be strong, particularly for materials used in manufacturing semiconductors and batteries. The Spectroscopy business grew more than 20% in the quarter and the company continues to strengthen the position in Spectroscopy across multiple end-markets.

Moreover, the Agilent CrossLab Group posted revenue of $381 billion in Q1. This is up 13% core. Agilent team continues to take advantage of record instrument placements over the past two years, along with the continued growth and attach rates. The Diagnostics and Genomics Group delivered revenues of $342 million, up 5% core. The pathology related business performed well with double-digit growth led by the Americas and Europe. NASD posted another strong quarter growing 22%. The Train B manufacturing expansion remains on track to come online mid calendar year. In January, the company had announced an additional $725 million expansion of the NASD facility that will double our oligo manufacturing capacity.

A in the first quarter of FY 23 has reported the adjusted earnings per share of $1.37, beating the analysts’ estimates for the adjusted earnings per share of $1.31, according to  Zacks Investment Research. The company had reported the adjusted revenue growth of 5 percent to $1.76 billion in the first quarter of FY 23, beating the analysts’ estimates for revenue of $1.69 billion.

For the current quarter ending in April, Agilent expects its per-share earnings to range from $1.24 to $1.27. Analysts surveyed by Zacks had forecast adjusted earnings per share of $1.39. The company said it expects revenue in the range of $1.66 billion to $1.68 billion for the fiscal second quarter. Analysts surveyed by Zacks had expected revenue of $1.77 billion.

Agilent expects full-year earnings in the range of $5.65 to $5.70 per share, with revenue ranging from $7.03 billion to $7.1 billion.