Illumina's Q2 revenue drops 25%

By The Science Advisory Board staff writers

August 10, 2020 -- Illumina's revenue dropped 25% due to the impact of the COVID-19 pandemic on the company's business in the second quarter (end-June 28).

The firm announced revenue decreased from $838 million in the second quarter of last year to $633 million in this year's second quarter because of pandemic-related disruption in customers' operations, Illumina said.

Similarly, net income under generally accepted accounting principles (GAAP) for the quarter was $47 million, compared with $296 million in the same quarter last year.

On the nonGAAP side, net income was $92 million compared with $200 million for the same quarter in 2019.


Copyright © 2020 scienceboard.net
 
To access all The ScienceBoard content create a free account now:


Email Address:  

First Name:

Last Name:

Learn about ScienceBoard

Get the latest life sciences research and industry news, delivered straight to your inbox, for free.

Why subscribe?

ScienceBoard is uniquely focused on the business of research, addressing the biggest problems that the biomedical industry face. You’ll get breaking news, events coverage, and deep dives into the science that drives innovation, delivered to your inbox daily.


Letter from the Editor Please send me twice-weekly roundups of all the latest life research and industry news.
SAB Announcements Please send me the latest announcements from The Science Advisory Board and their partners.
Spotlight Receive notifications about new content, services, or educational resources designed to help you sharpen your skills and grow professionally.
 
I have read and agree to the privacy policy and terms of service and wish to opt-in for ScienceBoard.net.

Already have an account? Sign in here