{"id":82873,"date":"2023-11-10T03:32:46","date_gmt":"2023-11-10T08:32:46","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/illumina-shares-fall-as-company-cuts-forecasts\/"},"modified":"2023-11-10T03:32:48","modified_gmt":"2023-11-10T08:32:48","slug":"illumina-shares-fall-as-company-cuts-forecasts","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=82873","title":{"rendered":"Illumina shares fall as company cuts forecasts"},"content":{"rendered":"
\n

Shares of Illumina Inc.
\n ILMN,
\n -3.36%<\/bg-quote>
\n fell after hours on Thursday after the maker of DNA-sequencing technology cut its full-year sales and profit outlook. The company said it now expected full-year sales to fall 2% to 3%, compared with a forecast in August for around 1% growth, and an adjusted per-share profit of 60 to 70 cents, lower than prior expectations for 75 cents to 90 cents a share. Shares fell 8.9% after hours. For the third quarter, the company reported adjusted earnings per share of 33 cents, on revenue of $1.12 billion, which was flat compared to the same quarter last year. Analysts polled by FactSet expected adjusted earnings per share of 13 cents, on revenue of $1.13 billion. New Chief Executive Jacob Thaysen said the economic backdrop \u201cremains challenging.\u201d Illumina reported after U.S. regulators and the EU ordered the company to divest cancer-detection test maker GRAIL, which Illumina bought in 2021, amid competition concerns. Management said it had \u201cretained advisors and preparing for sale and capital markets transaction options for GRAIL.\u201d <\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Shares of Illumina Inc. ILMN, -3.36% fell after hours on Thursday after the maker of DNA-sequencing technology cut its full-year sales and profit outlook. The company said it now expected full-year sales to fall 2% to 3%, compared with a forecast in August for around 1% growth, and an adjusted per-share profit of 60 to […]<\/p>\n","protected":false},"author":1,"featured_media":78672,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-82873","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nIllumina shares fall as company cuts forecasts | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Shares of Illumina Inc. ILMN, -3.36% fell after hours on Thursday after the maker of DNA-sequencing technology cut its full-year sales and profit outlook.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=82873\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Illumina shares fall as company cuts forecasts | iFintechWorld\" \/>\n<meta property=\"og:description\" content=\"Shares of Illumina Inc. 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