Illumina Inc. reported an expected drop in earnings and revenue for the first quarter as its costs rose and margins tightened.
The maker of gene-sequencing machines posted a profit of $3 million, or 2 cents a share, compared with $86 million, or 55 cents a share, in the same quarter a year ago.
Stripping out one-time items, adjusted earnings were 8 cents a share. Analysts polled by FactSet had been expecting 1 cent a share.
Revenue came in at $1.09 billion, down from $1.22 billion in the year-ago period but above analyst expectations for $1.07 billion, according to FactSet.
Shares fell 1.69% to $2153 in after-hours trading.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments