Illumina expects revenue drop after another guidance cut

Il­lu­mi­na on Thurs­day said it ex­pects rev­enue to drop this year, a re­ver­sal from Jan­u­ary, when the com­pa­ny fore­cast­ed strong growth.

In a news re­lease ac­com­pa­ny­ing quar­ter­ly re­sults, Il­lu­mi­na said it ex­pects rev­enue in 2023 to de­crease 2% to 3% com­pared to the pri­or year. The DNA se­quenc­ing firm start­ed off the year fore­cast­ing 7% to 10% in rev­enue growth, but the com­pa­ny re­vised down its rev­enue pro­jec­tion in Au­gust and then again to­day.

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