Will Illumina Q2 results bring positive surprise amid Grail merger woes?
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Illumina (NASDAQ:ILMN) is scheduled to announce Q2 earnings results on Thursday, August 11th, after market close.
The consensus EPS Estimate is $0.64 (-65.8% Y/Y) and the consensus Revenue Estimate is $1.22B (+8.0% Y/Y).
Over the last 2 years, ILMN has beaten EPS estimates 88% of the time and has beaten revenue estimates 88% of the time.
Over the last 3 months, EPS estimates have seen 0 upward revisions and 12 downward. Revenue estimates have seen 0 upward revisions and 10 downward.

The company's stock fell -14.63% on May 6, the day after it reported its Q2 results post-market on May 5. The genomic analysis company's net income declined ~41% Y/Y due to a significant operating loss from its Grail division.
The merger with the cancer test developer Grail, however, has been in hot waters in the EU. In July, the European Commission alleged that the companies breached the EU Merger Regulation by implementing the merger while the agency's investigation into the proposed transaction was still ongoing. Later in the month, it was reported that EU antitrust regulators were likely to veto the acquisition of Grail.
A European court had previously upheld a decision by the EU's competition authority to review Illumina's $8B acquisition of Grail.
Illumina's shares also took a hit in June following announcement that Chief Financial Officer Sam Samad was leaving the company in July.
Product News: During Q2, Illumina launched a cancer genomic test, TruSight Oncology 500, jointly-developed with Merck. The company's TruSight Oncology test added a companion diagnostic use for Bayer's cancer drug Vitrakvi. Meanwhile, Grail collaborated with the U.S. Department of Veterans Affairs to provide Galleri, a multi-cancer early detection blood test, to 10K veterans.