BUZZ - Illumina shares fall due to third quarter revenue missing expectations

October 30 - ** Shares of gene sequencing company Illumina (ILMN.O) fell 13.5% to $251

** According to LSEG data, the company reported third-quarter revenue of $1.13 billion on Thursday evening, below expectations of $1.15 billion

** Revenue excluding tariff rebates was $1.17 billion

** Third-quarter earnings per share (EPS) were $1.44, above analysts' expectations of $1.36

** "Third-quarter performance was fair. But the share price did not reflect 'fair'—we expect pressure in the near term," said UBS analysts

** The company said demand for its DNA sequencing platform NovaSeq X remains extremely high, receiving orders for over 80 instruments this quarter

** "Although NovaSeq X device deliveries remained high at >80 units, failure to translate this into equipment revenue is an issue, and a further slowdown in sequential clinical consumables growth is also a concern," said Jefferies analysts

** Citi analysts noted that, given sequencing results fell short of market consensus and tariff impacts further increased uncertainty, the share price is expected to be under pressure

** Including intraday volatility, the stock has risen 90.2% year-to-date

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