Illumina Shares Gain on Q2 Beat, While Outlook Misses
<p><a href='https://financialmodelingprep.com/financial-summary/ILMN'>Illumina (NASDAQ:ILMN)</a> saw a more than 3% gain intra-day today after the company’s Q2 results announcement. </p>
<p>The company's adjusted EPS for the quarter exceeded forecasts, reaching 32 cents compared to the expected 2 cents. Revenue for the second quarter reached $1.18 billion, a slight 1.2% increase from the previous year, surpassing the estimated $1.16 billion.</p>
<p>Illumina's CEO stated that they anticipate a negative impact on second-half revenue due to cautious customer purchasing, slower recovery in China, and a larger-than-expected decline in high throughput consumables as customers transition to the NovaSeq X. In response, they plan to enhance customer support for the NovaSeq X and maintain disciplined expense management.</p>
<p>As a result, the company revised its full-year profit forecast to a range of $0.75 to $0.90, falling short of the Street estimate of $1.33. </p>

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