Illumina Inc. (ILMN) saw its stock plummet over 5% in the pre-market trading session on Tuesday, following the release of the biotechnology company's mixed fourth-quarter results and subdued outlook for the year ahead.
While Illumina reported a fourth-quarter revenue of $1.1 billion, exceeding analysts' estimates of $1.072 billion, the company's profit margins for the quarter fell short of expectations. Illumina's adjusted EBIT margin for Q4 2024 stood at a mere 1.5%, significantly lower than analysts had anticipated.
Adding to investor concerns, Illumina projected an adjusted operating margin of only 23% for the full fiscal year 2025, signaling potential headwinds and profitability challenges ahead. The lackluster profit margins and subdued outlook overshadowed Illumina's topline beat, prompting a sell-off in the stock during the pre-market session.
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