Earnings call transcript: Illumina beats Q3 2026 estimates but shares fall after hours

Illumina Inc (NASDAQ:ILMN) experienced a 12% drop in shares after-hours following the release of its third-quarter earnings, despite the company exceeding analyst expectations. The genomics company reported adjusted earnings per share of $1.44, surpassing the consensus of $1.36, while revenue reached $1.17 billion, excluding tariff refunds, surpassing the $1.15 billion estimate.

However, China revenue declined by 0.1% during the quarter, casting a shadow over the overall positive performance. Illumina has raised its full-year 2026 guidance, projecting revenue between $4.64 billion and $4.66 billion, surpassing the prior guidance of $4.60 billion to $4.64 billion. CEO Jacob Thaysen attributed the strong performance to healthy clinical demand and robust NovaSeq X placements, stating that the company is raising its full-year revenue and earnings guidance based on continued momentum.

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