Illumina corrects on Wall Street

(Boursier.com) — Illumina is losing ground before the market on Wall Street, while the sequencing technology supplier only forecasts stable sales for the 2024 financial year in its core business, in the face of sluggish demand. For the fiscal fourth quarter, revenue was $1.12 billion, compared to $1.09 billion consensus. On an adjusted basis, earnings per share were 14 cents, compared to the consensus estimate of 2 cents. Moderate demand for genetic testing and diagnostic tools is confirmed. The designer of genetic sequencing machines is thus suffering from customers’ caution in terms of spending and the tense economic context in China.