Illumina Earnings: Here’s Why Investors Like These Results
Illumina Inc. (NASDAQ:ILMN) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 6.25%.
Illumina Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 7.5% to $0.43 in the quarter versus EPS of $0.40 in the year-earlier quarter.
Revenue: Rose 23.33% to $346.09 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Illumina Inc. reported adjusted EPS income of $0.43 per share. By that measure, the company beat the mean analyst estimate of $0.4. It beat the average revenue estimate of $331.77 million.
Quoting Management: “We are very pleased with our operational execution for the first half of 2013 and the resulting record financial performance,” said Illumina’s President and Chief Executive Officer Jay Flatley. “Our business demonstrated strong trends globally and our 2013 strategic initiatives for robust long-term growth are progressing as planned. As a result we are raising our expectations for 2013 financial performance.”
Key Stats (on next page)…