Article Link: Illumina shares tank after big revenue miss
Illumina‘s stock plunged nearly 24 percent Tuesday after the diagnostic test maker reported preliminary first-quarter revenue well below expectations.
The firm said it expects revenues of $572 million, well below the $596 million originally forecast, citing weak device sales.
Illumina added it sees 2016 revenue growth of 12 percent, its slowest in four years.
The company’s stock has taken a beating this year, falling 28 percent.
ILMN in 2016
— Reuters contributed to this report.
Source: CNN Investing