Illumina, a leading provider of gene sequencing machines and diagnostic tools, experienced a significant after-hours plunge of 5.12% on Thursday, February 6th, 2025. This decline followed the company's release of its 2025 revenue forecast, which largely fell short of Wall Street's expectations.
In its earnings report, Illumina projected annual revenue for 2025 to range between $4.28 billion and $4.4 billion. Analysts, on average, had estimated the company's 2025 revenue to be around $4.39 billion, indicating that Illumina's guidance missed market expectations.
The disappointing revenue forecast suggests subdued demand for Illumina's genetic tests and diagnostic tools, which could be attributed to reduced spending from biotech clients in recent years. While recent interest rate cuts may improve the funding environment for biotechs, it appears that Illumina is facing challenges in maintaining its growth momentum.
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