Illumina Shares Rally As Revenue Tops Street View

By Wallace Witkowski Markets MarketWatch Pulse

Illumina Inc. shares surged in the extended session Tuesday after the DNA sequencing company's quarterly revenue topped Wall Street estimates. Illumina shares rallied 9.5% to $188.50 after hours. The company reported second-quarter net income of $128 million, or 87 cents a share, compared to $120 million, or 82 cents a share, in the year-ago period. Adjusted earnings were 82 cents a share. Revenue rose to $662 million from $600 million in the year-ago period. Analysts surveyed by FactSet had estimated 82 cents a share on revenue of $642.2 million. For the year, Illumina estimates adjusted earnings of $3.60 to $3.70 a share. Analysts expect $3.63 a share.

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