Illumina Recorded $14M Of Leasehold Improvement Impairments Related To Our Foster City Campus In Q1 2024; Recorded Additional Right-Of-Use Asset Impairments Of $18M In Q1 2024 Related To Campus In Foster City; Continues To Evaluate Its Options With Respect To Rest Of Its Campus In Foster City And Property In San Diego, California
Portfolio Pulse from Benzinga Newsdesk
Illumina reported impairments totaling $32M in Q1 2024, including $14M for leasehold improvements and $18M for right-of-use assets at its Foster City campus. The company is also evaluating options for its Foster City campus and San Diego property.
May 03, 2024 | 8:22 pm
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Illumina reported significant impairments in Q1 2024, affecting its financials and potentially its stock price.
The reported impairments of $32M for Illumina in Q1 2024 indicate a significant financial setback, which could negatively impact investor sentiment and the stock price in the short term. The ongoing evaluation of its real estate options suggests potential future financial adjustments or strategic shifts, adding uncertainty.
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