Illumina in the second quarter reported revenue of $830 million, a 25 percent year-over-year increase.
The figure is about $46.6 million higher than analysts’ estimate. In addition, earnings per share came to $1.43, which is $0.32 better than analysts were expecting.
The San Diego genomics company appears to be strengthening its position as a market leader as more turn to genomics for research, clinical and consumer purposes. Sequencing consumables, array consumables, and lab and other services each grew more than 30 percent compared with the second quarter of 2017.
Gross margin was 69.3 percent compared with 65.5 percent in the prior year period.
The company is expecting revenue growth of about 20 percent for 2018.