Illumina sees Q4 revenue above expectations, provides a mixed outlook
Illumina Inc. provided Wednesday a fourth-quarter revenue estimate that was above expectations, and provided a mixed outlook for 2019. The stock was still inactive in premarket trade. The genetics analysis company's Chief Executive Francis deSouza said at the J.P. Morgan Healthcare Conference that fourth-quarter revenue rose 11% from a year ago to $865 million, which was above the FactSet consensus of $862 million, while full-year revenue rose 21% to $3.3 billion. For 2019, deSouza said revenue growth is expected to be 13% to 14%, while the current FactSet consensus of $3.81 billion is about 15% above 2018 revenue of $3.3 billion. The company expects 2019 adjusted earnings per share, which excludes non-recurring items, of $6.50 to $6.60, compared with the current FactSet consensus of $6.44. Illumina's stock has lost 9.3% over the past three months, while the SPDR Health Care Select Sector ETF has declined 7.9% and the S&P 500 has shed 10.6%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.