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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.