Illumina slashes outlook for 2023, two executives depart

Il­lu­mi­na, the world’s largest DNA se­quenc­ing com­pa­ny, cut its sales fore­cast for 2023 as de­mand slumped in Chi­na, and al­so an­nounced that two ex­ec­u­tives will de­part.

In quar­ter­ly re­sults re­leased to­day, the San Diego-based com­pa­ny record­ed $1.18 bil­lion in rev­enue. It ex­pects a 1% in­crease in rev­enue in 2023, re­vis­ing down a 7% to 10% growth fore­cast in the pri­or quar­ter.

The news comes as Il­lu­mi­na tries to find a new CEO and pres­sure mounts from in­vestors and an­titrust reg­u­la­tors. Il­lu­mi­na’s stock $ILMN fell 6% in af­ter-hours trad­ing.

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