A sign on Illumina’s campus in San Diego. Reuters/Mike Blake llumina on Thursday forecast core business revenue to be nearly flat in the coming year compared to 2023 amid subdued demand for its genetic testing tools and diagnostics products. The San Diego-based gene-sequencing machine maker has witnessed a year of sluggish demand for its tools and services due to cautious customer spending and a protracted recovery in its key market, China. The company’s fourth-quarter revenue was $1.12 billion, compared with analysts’ estimates of $1.09 billion, helped by strong demand for its consumables and DNA sequencing instrument NovaSeq X. It shipped 79 units of the instrument during the qu
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