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Illumina (ILMN) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
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For the quarter ended June 2023, Illumina (ILMN - Free Report) reported revenue of $1.18 billion, up 1.2% over the same period last year. EPS came in at $0.32, compared to $0.57 in the year-ago quarter.
The reported revenue represents a surprise of +1.11% over the Zacks Consensus Estimate of $1.16 billion. With the consensus EPS estimate being $0.02, the EPS surprise was +1500.00%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Illumina performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Revenue- Core Illumina: $1.16 billion versus the six-analyst average estimate of $1.15 billion.
Revenue- GRAIL: $22 million versus $22.64 million estimated by five analysts on average.
Revenue- Microarrays- Consumables: $70 million versus the five-analyst average estimate of $77.55 million. The reported number represents a year-over-year change of -5.4%.
Revenue- Service and other revenue: $175 million compared to the $174.11 million average estimate based on five analysts. The reported number represents a change of +12.2% year over year.
Revenue- Sequencing- Consumables: $739 million compared to the $714.70 million average estimate based on five analysts. The reported number represents a change of 0% year over year.
Revenue- Sequencing- Total: $1.07 billion versus the four-analyst average estimate of $1.04 billion. The reported number represents a year-over-year change of +0.1%.
Revenue- Sequencing- Service & Other: $134 million versus $136.29 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -1.5% change.
Revenue- Microarrays- Total: $93 million compared to the $105.85 million average estimate based on four analysts. The reported number represents a change of -4.1% year over year.
Revenue- Microarrays- Service & Other: $19 million compared to the $23.50 million average estimate based on four analysts. The reported number represents a change of -5% year over year.
Revenue- Microarrays- Instruments: $4 million versus $4.72 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +33.3% change.
Revenue- Sequencing- Instruments: $193 million versus the four-analyst average estimate of $186.02 million. The reported number represents a year-over-year change of +1.6%.
Revenue- Product revenue- Consumable: $809 million versus the three-analyst average estimate of $795.63 million. The reported number represents a year-over-year change of -1.1%.
Shares of Illumina have returned +0.7% over the past month versus the Zacks S&P 500 composite's +2.4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Illumina (ILMN) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
For the quarter ended June 2023, Illumina (ILMN - Free Report) reported revenue of $1.18 billion, up 1.2% over the same period last year. EPS came in at $0.32, compared to $0.57 in the year-ago quarter.
The reported revenue represents a surprise of +1.11% over the Zacks Consensus Estimate of $1.16 billion. With the consensus EPS estimate being $0.02, the EPS surprise was +1500.00%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Illumina performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Revenue- Core Illumina: $1.16 billion versus the six-analyst average estimate of $1.15 billion.
- Revenue- GRAIL: $22 million versus $22.64 million estimated by five analysts on average.
- Revenue- Microarrays- Consumables: $70 million versus the five-analyst average estimate of $77.55 million. The reported number represents a year-over-year change of -5.4%.
- Revenue- Service and other revenue: $175 million compared to the $174.11 million average estimate based on five analysts. The reported number represents a change of +12.2% year over year.
- Revenue- Sequencing- Consumables: $739 million compared to the $714.70 million average estimate based on five analysts. The reported number represents a change of 0% year over year.
- Revenue- Sequencing- Total: $1.07 billion versus the four-analyst average estimate of $1.04 billion. The reported number represents a year-over-year change of +0.1%.
- Revenue- Sequencing- Service & Other: $134 million versus $136.29 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -1.5% change.
- Revenue- Microarrays- Total: $93 million compared to the $105.85 million average estimate based on four analysts. The reported number represents a change of -4.1% year over year.
- Revenue- Microarrays- Service & Other: $19 million compared to the $23.50 million average estimate based on four analysts. The reported number represents a change of -5% year over year.
- Revenue- Microarrays- Instruments: $4 million versus $4.72 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +33.3% change.
- Revenue- Sequencing- Instruments: $193 million versus the four-analyst average estimate of $186.02 million. The reported number represents a year-over-year change of +1.6%.
- Revenue- Product revenue- Consumable: $809 million versus the three-analyst average estimate of $795.63 million. The reported number represents a year-over-year change of -1.1%.
View all Key Company Metrics for Illumina here>>>Shares of Illumina have returned +0.7% over the past month versus the Zacks S&P 500 composite's +2.4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.