On July 31, Illumina rose 6.78% in after-hours trading, trading at $215.19/share, with turnover of $8.2056 million. The rally was driven by the company's Q2 earnings report released after market close on July 30, which drew a positive market reaction.

Illumina issued full-year revenue guidance of $4.52 billion to $4.62 billion, exceeding market expectations. The strong results mark at least the third consecutive quarter of beats, following Q1 adjusted EPS of $1.15 that topped the consensus estimate by 9.5%, and Q1 revenue of $1.09 billion representing 4.8% year-over-year growth. The board had also previously authorized an additional $1.5 billion stock buyback program, signaling management confidence in the business outlook.

Sustained fundamental outperformance, combined with above-consensus full-year guidance, attracted capital inflows following the earnings release, propelling shares higher in after-hours trading.

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