Illumina, Inc. 2Q Beats Street, Outlook Falls Short

Genetic analysis instrument maker Illumina Inc. said Tuesday that its second-quarter net income edged higher as revenue grew by a third. It raised its annual profit and revenue forecast but the new outlook still came below what analysts were expecting. Its shares fell. Net income in the three months through July 3 rose to $30.6 million, or 22 cents per share, from $29.8 million, or 21 cents per share, a year ago. Excluding charges for extinguishing debt early and other one-time events, adjusted earnings came to 38 cents per share, slightly above the 36 cents per share expected by analysts polled by FactSet.

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