Benzinga | Oct 26, 2020 04:26PM EDT

Recap: Harmonic Q3 Earnings

Shares of Harmonic (NASDAQ:HLIT) fell 3.7% in after-market trading after the company reported Q3 results.

Quarterly Results

Earnings per share decreased 88.00% over the past year to $0.03, which beat the estimate of ($0.05).

Revenue of $94,892,000 declined by 18.00% from the same period last year, which beat the estimate of $82,050,000.

Outlook

Harmonic Sees Q4 Sales Of $120M-$130M Vs $130.98M Estimates, EPS $0.1-$0.18 Vs $0.17 Estimates; FY20 Sales $367.5M-$377.5M Vs $365.44M Estimates, $(0.03)-$0.04 Vs $(0.04) Estimates

How To Listen To The Conference Call

Date: Oct 26, 2020

Time: 05:00 PM

ET Webcast URL: https://edge.media-server.com/mmc/p/rtf3o5hv

Price Action

52-week high: $8.57

52-week low: $4.44

Price action over last quarter: down 2.99%

Company Overview

Harmonic Inc designs and manufactures video infrastructure products and system solutions to deliver video and broadband services to consumer devices. The firm operates in two segments: video, which sells video processing, production, and playout solutions to cable operators and satellite and telecommunications providers; and Cable Access, which sells cable edge solutions to cable operators. Roughly half of the firm's revenue is generated in the Americas, with the rest coming from Europe, the Middle East, and Africa, as well as the Asia Pacific region.