$0.00

No products in the cart.

Illumina Beats Q3 Earnings But Lowers Revenue Guidance


Illumina (NASDAQ:ILMN) reported third-quarter earnings that exceeded analyst expectations, however the fourth-quarter revenue guidance disappointed investors.
The genetic sequencing company posted adjusted earnings per share of $1.14, well above the Street estimate of $0.88, with quarterly revenue of $1.08 billion meeting projections.
Despite the earnings beat, Illumina’s fourth-quarter outlook weighed on investor sentiment. The company forecasted Q4 revenue at approximately $1.07 billion, falling short of analysts’ expectations of $1.15 billion.
For the full year 2024, Illumina adjusted its revenue guidance downward, now anticipating a 3% decline in Core Illumina revenue compared to fiscal 2023, citing a challenging macroeconomic environment.
On a positive note, Illumina raised its full-year adjusted earnings per share guidance to a range of $4.05 to $4.15, exceeding the Street consensus estimate of $3.91. CEO Jacob Thaysen expressed optimism, highlighting strong demand for Illumina’s products and progress in improving margins and earnings despite economic constraints.

Subscribe to get Latest News

Latest Articles

More like this