Harmonic: Q1 Earnings Snapshot
SAN JOSE, Calif. (AP) — SAN JOSE, Calif. (AP) — Harmonic Inc. (HLIT) on Monday reported first-quarter profit of $5.9 million.
The San Jose, California-based company said it had profit of 5 cents per share. Earnings, adjusted for stock option expense and pretax expenses, were 11 cents per share.
The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 5 cents per share.
The video services provider posted revenue of $133.1 million in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $128.5 million.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on HLIT at https://www.zacks.com/ap/HLIT