SAN DIEGO (AP) — SAN DIEGO (AP) — Illumina Inc. (ILMN) on Tuesday reported a loss of $1.99 billion in its second quarter.
On a per-share basis, the San Diego-based company said it had a loss of $12.48. Earnings, adjusted for asset impairment costs and non-recurring costs, were 36 cents per share.
The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 12 cents per share.
The genetic testing tools company posted revenue of $1.11 billion in the period, which also topped Street forecasts. Five analysts surveyed by Zacks expected $1.1 billion.
Illumina expects full-year earnings in the range of $3.80 to $3.95 per share.
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