From Financial Modeling Prep: 2024-11-05 08:47:00

Illumina (NASDAQ:ILMN) beat third-quarter earnings estimates with adjusted earnings per share of $1.14, exceeding the Street’s $0.88 forecast. Quarterly revenue met projections at $1.08 billion. However, fourth-quarter revenue guidance of $1.07 billion fell short of analysts’ $1.15 billion expectations.

For full-year 2024, Illumina revised revenue guidance downward, now expecting a 3% decline in Core Illumina revenue compared to fiscal 2023 due to a challenging macroeconomic environment. On a positive note, the company raised its full-year adjusted earnings per share guidance to $4.05 to $4.15, surpassing the Street’s estimate of $3.91. CEO Jacob Thaysen remains optimistic about strong product demand and progress in improving margins and earnings despite economic challenges.



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