Il­lu­mi­na re­ports stronger-than-ex­pect­ed growth, in­di­cates Grail di­vesti­ture still in ear­ly stages: #JPM24

Il­lu­mi­na’s stock rose af­ter re­port­ing stronger quar­ter­ly rev­enue than ex­pect­ed, while com­pa­ny ex­ec­u­tives dur­ing the JP Mor­gan Health­care Con­fer­ence in­di­cat­ed can­cer-test­ing sub­sidiary Grail won’t be di­vest­ed im­mi­nent­ly.

The DNA test­ing gi­ant re­port­ed $1.115 bil­lion in pre­lim­i­nary fourth quar­ter rev­enue, up 3% over the same pe­ri­od a year ear­li­er and com­ing ahead of com­pa­ny and an­a­lyst ex­pec­ta­tions. This fol­lows a string of quar­ters in which Il­lu­mi­na sales came in be­low com­pa­ny fore­casts.

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