By Adam L. Cataldo
Harmonic's shares fell after the company's earnings forecast for the current quarter and the year fell short of analysts' expectations.
The stock slid 31%, to $7.69, in post-market trading Monday. Shares are down 16% in 2025 and 21% in the past year.
The virtualized broadband and video delivery solutions company forecast first-quarter earnings per share of 2 cents to 8 cents, missing the estimate of 12 cents expected by analysts surveyed by FactSet. For the year, the company said it sees earnings per share of 43 cents to 68 cents, compared with the 87 cents forecast of analysts, according to FactSet.
Harmonic guided for 1Q revenue of $120 million to $135 million, below the $148.4 million analysts had forecast. For the year the San Jose, Calif., company guided for revenue of $585 million to $645 million. Analysts expected $727.4 million, according to FactSet.
Write to Adam L. Cataldo at adam.cataldo@wsj.com
(END) Dow Jones Newswires
February 10, 2025 18:50 ET (23:50 GMT)
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