Why Illumina (ILMN) Stock Is Spiking Today

NEW YORK (TheStreet) -- Illumina (ILMN) stock is gaining in extended trading Tuesday after posting a better-than-expected first quarter.

After the bell, the maker of genetic analysis technologies had added 9.1% to $161.48.

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Over the three months to March, the company reported net income of 53 cents a share and revenue of $420.78 million. Analysts polled by Thomson Reuters had forecast net income of 44 cents a share and $391.76 million in revenue. 

Management said it has increased full-year guidance to 21% to 23% revenue growth and earnings between $2.10 and $2.15 a share. Analysts had forecast 18.2% revenue growth and earnings of $2.05 a share. 

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