Illumina Reports Strong Q3 Earnings but Shares Dip on Weak Revenue Guidance

Illumina Inc. (NASDAQ: ILMN) reported third-quarter earnings of $1.14 per share, exceeding expectations, but faced a 5.8% stock decline due to a cautious revenue forecast for the fourth quarter. The company anticipates revenue around $1.07 billion, lower than analyst predictions, and has revised its full-year guidance for 2024. Despite challenges, CEO Jacob Thaysen highlighted strong demand for Illumina’s products and an increase in full-year adjusted earnings guidance, signaling optimism for future growth.