Why Illumina Stock Is Skyrocketing Today

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Shares of Illumina (NASDAQ: ILMN) were skyrocketing 19% as of 11:30 a.m. EST on Friday. The big jump came after the genomic sequencing leader announced its fourth-quarter and full-year 2020 results following the market close on Thursday.

Illumina reported record revenue in the fourth quarter of $953 million, up 20% from the third quarter and slightly higher than the prior-year period.

The company’s adjusted earnings came in at $179 million, or $1.22 per diluted share. This was lower than Illumina’s adjusted earnings of $252 million, or $1.70 per share, in the fourth quarter of 2019. But it easily beat the consensus Wall Street estimate of $1.11 per share.

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