Illumina Expects Q4 Revenue Better Than View; Stock Up

(RTTNews) - Illumina, Inc. (ILMN) Tuesday reported its preliminary fourth-quarter and fiscal-year revenue, which was higher than analysts estimate. Following this announcement, Illumina's stock gained 8%.

For the fourth quarter, the company projects revenue of around $1.11 billion, up 3% from last year, while analysts polled by Thomson Reuters expect it to stand at $1.07 billion.

For full-year 2023, the company sees revenue of around $4.5 billion, up 2% from last year, whereas analysts estimate it to be $4.45 billion.

Further, the company expects an operating margin of around 15.5% for the fourth quarter and 24% for fiscal year 2023.

Currently, Illumina's stock is gaining 8.02%, to $144.38 from the previous close of $133.66 on a volume of 1,397,962 on the Nasdaq. It has traded between $89 and $238.55 in the past 52-week period.