Harmonic Analysts Slash Their Forecasts After Q2 Earnings

Harmonic Inc. (NASDAQ:HLIT) posted better-than-expected second-quarter earnings, but issued third-quarter guidance below estimates on Monday.

Harmonic reported quarterly earnings of 9 cents per share which beat the analyst consensus estimate of 3 cents per share. The company reported quarterly sales of $138.027 million which beat the analyst consensus estimate of $128.728 million.

Harmonic said it sees third-quarter adjusted EPS of 2 cents to 7 cents, versus market estimates of 14 cents. The company sees sales of $120.000 million to $135.000 million versus expectations of $154.258 million.

“Our team delivered strong second quarter results with revenue and profitability in both our Video and Broadband businesses exceeding the high end of ...