Illumina Q2 2024 Adj. EPS $0.36 Misses $0.90 Estimate, Sales $1.112B Beat $1.080B Estimate
Portfolio Pulse from Benzinga Newsdesk
Illumina (NASDAQ:ILMN) reported Q2 2024 earnings of $0.36 per share, missing the analyst estimate of $0.90 by 60%. However, sales of $1.112 billion beat the estimate of $1.080 billion. Earnings increased by 12.5% year-over-year, while sales decreased by 5.44%.
August 06, 2024 | 8:09 pm
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Illumina's Q2 2024 earnings per share of $0.36 missed the analyst estimate of $0.90 by 60%, but sales of $1.112 billion beat the estimate of $1.080 billion. Earnings increased by 12.5% year-over-year, while sales decreased by 5.44%.
The significant miss on EPS is likely to negatively impact the stock price in the short term, despite the sales beat. The market often reacts more strongly to earnings misses than sales beats, especially when the miss is as substantial as 60%.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100