Illumina (ILMN) came out with quarterly earnings of $1.45 per share, beating the Zacks Consensus Estimate of $1.24 per share. This compares to earnings of $1.02 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of 16.94%. A quarter ago, it was expected that this genetic testing tools company would post earnings of $1.36 per share when it actually produced earnings of $1.87, delivering a surprise of 37.50%.
Over the last four quarters, the company has surpassed consensus EPS estimates four times.
Illumina, which belongs to the Zacks Medical - Biomedical and Genetics industry, posted revenues of $1.11 billion for the quarter ended September 2021, surpassing the Zacks Consensus Estimate by 6.63%. This compares to year-ago revenues of $794 million. The company has topped consensus revenue estimates four times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Illumina shares have added about 13.4% since the beginning of the year versus the S&P 500's gain of 24.1%.
Illumina shares rose 2.65% in after-hours trading.
