Illumina's Q2 revenue drops 25%

2020 08 10 15 31 8350 Coronavirus Business Graphic2 400

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.

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