Key Points
A sign at the front entrance to the global headquarters of Illumina is pictured in San Diego, California, U.S., November 28, 2022..
Nov 9 (Reuters) - U.S. genetic testing Illumina (ILMN.O) on Thursday trimmed its annual profit forecast for the second straight quarter, hurt by weakness in demand for its sequencing instruments, consumables and services...
Shares of the San Diego, California-based company fell about 9% to $97.51 in extended trading, after it also missed Wall Street estimates for third-quarter sales...
The U.S. life sciences firm in the last quarter had flagged weakness in demand for its genetic testing tools and diagnostics products over protracted recovery in China, cautious consumer spending and lengthened sales cycles...
Sales at its core business, which advances sequencing instruments, consumables and services for genetic analysis, were $941 million in the third quarter, compared with LSEG estimates of $963.80 million...
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