Despite 56% drop in net income, Illumina's quarterly results still beat on bottom line
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Although Illumina's (NASDAQ:ILMN) Q4 2021 net income plummeted 56% to $112M compared to the prior-year period, that was good enough to beat expectations.
Illumina also beat on the top line. Revenue of ~$1.2B was a 25% increase compared to Q4 2020.

The company was hurt in the quarter by significant increases in both R&D and SG&A expenses. R&D went up 75% to $350M, while SG&A increased 43% to $426M.
In fiscal 2022, Illumina expects that revenue from GRAIL, which it acquired in August 2021, will be between $70M and $90M.
The company ended the year with about $1.2B in cash.
Check out why Seeking Alpha contributor Juxtaposed Ideas views Illumina as a hold.