Illumina's GAAP net income for 3 months of 2022 was $86 million, down 41.5% from $147 million in the previous year. Revenue increased 11.9% to $1.223 billion from $1.093 billion a year earlier.

Illumina's GAAP net income for 2021 was $762 million, up 16.2% from $656 million the previous year. Revenue increased 39.7% to $4.526 billion from $3.239 billion a year earlier.

Illumina's GAAP net income for 9M 2021 was $650 million, up 62.9% from $399 million in the prior year. Revenues increased 45.5% to $3.327 billion compared to $2.286 billion a year earlier.

Illumina acquired Grail, which developed a test to detect 50 different types of cancer at an early stage. Grail shareholders will receive $3.1 billion in cash and 9.8 million shares of Illumina common stock. However, the deal is still under review by the European Commission and could be reversed. The company believes that the deal does not fall under the jur...