Illumina Inc. has reported financial results for the first quarter of fiscal year 2025, revealing a slight dip in revenue and earnings compared to the same quarter last year. The company's core revenue for Q1 2025 stood at $1.041 billion, representing a 1% decrease from the $1.056 billion reported in Q1 2024. On a constant currency basis, revenue remained flat. The company reported a GAAP operating margin of 15.8% and a non-GAAP operating margin of 20.4% for the quarter. For Q1 2025, Illumina achieved a GAAP diluted EPS of $0.82 and a non-GAAP diluted EPS of $0.97. The company's cash provided by operations was $240 million, with a free cash flow of $208 million. Looking ahead to the fiscal year 2025, Illumina projects core revenue to decline by 1% to 3% on a constant currency basis, a revision from the previously anticipated low single-digit growth. Revenue outside of the Greater China region is expected to grow between 0% and 2% year over year on a constant currency basis. The company estimates reported revenue from the Greater China region will be between $165 million and $185 million for 2025, with $72 million recognized in Q1 2025. Additionally, Illumina anticipates $85 million in tariff-related costs, impacting the operating margin by an approximate 125 basis points and reducing EPS by $0.25 for the fiscal year.