Illumina (NASDAQ: ILMN) reported Q1 EPS of $0.09, $0.05 better than the analyst estimate of $0.04. Revenue for the quarter came in at $1.08 billion versus the consensus estimate of $1.05 billion.

GUIDANCE

For fiscal year 2024, the company continues to expect Core Illumina revenue to be approximately flat compared to fiscal year 2023 and Core Illumina non-GAAP operating margin to be approximately 20%. While Illumina continues to move as quickly as possible to resolve GRAIL, the company is focusing its financial outlook on Core Illumina, as the specific timing and impact of the GRAIL divestment remains uncertain.

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