Harmonic Inc. (NASDAQ:HLIT) shares jumped 20% to $14.40 in after-hours trading after the broadband technology company posted better-than-expected second-quarter results.

The company announced preliminary unaudited financials for the quarter ended Jul. 3.

Revenue And Earnings Beat Estimates

Harmonic’s net revenue rose to $173.0 million, surpassing the analyst estimate of $120.22 million by 11%.

Earnings per share for the quarter came in at $0.21, topping the estimated $0.16 by 31.3%.

Broadband revenue, the company’s core continuing operations segment, grew 54% year-over-year to $133.5 million, including 44% growth in Rest-of-Market customers.

Cash climbed to $231.9 million from $124.1 million at year-end 2025, following the completed $137.9 million sale of Harmonic’s Video business to Colorado-based global video technology and media services company MediaKind.

Nimrod Ben-Natan, President and CEO of Harmonic, said, “Our strong business momentum continued in the second quarter, with Broadband revenue growth accelerating to 54% year over year.”

For the third quarter, Harmonic expects GAAP revenue of $125 million to $135 million. The company expects gross margin to be between 51% and 52%.

The company raised its full-year 2026 revenue guidance to $505 million to $525 million. It also expects a GAAP gross margin of 50.9% to 51.8%.

Trading Metrics, Technical Analysis

Harmonic has a market capitalization of about $1.30 billion. Over the past 52 weeks, its stock has traded as high as $17.68 and as low as $8.47. The company has approximately 108.50 million shares outstanding.

HLIT has a Relative Strength Index (RSI) of 47.33.

Over the past 12 months, the stock has gained 30.15%.

Currently, HLIT is trading at about 38% of its 52-week range.

Price Action: The small-cap stock closed the regular session on Wednesday at $12, up 4.80%, according to Benzinga Pro data.

Benzinga’s Edge Stock Rankings indicate that HLIT is experiencing long-term upward movement along with medium and short-term consolidation.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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