Harmonic Inc reports results for the quarter ended June 30 - Earnings Summary

• Harmonic Inc HLIT.OQ reported quarterly adjusted earnings of 9 cents​​ per share for the quarter ended June 30, higher than the same quarter last year, when the company reported EPS of 8 cents. The mean expectation of six analysts for the quarter was for earnings of 3 cents per share. Wall Street expected results to range from 1 cents to 5 cents per share.

• Revenue fell 0.5% to $138.03 million from a year ago; analysts expected $127.62 million.

• Harmonic Inc's reported EPS for the quarter was 3 cents​.

• The company reported quarterly net income of $2.87 million.

• Harmonic Inc shares had fallen by 5.0% this quarter and lost 32.0% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 46.7% in the last three months.​

• In the last 30 days, there have been no earnings estimate revisions by analysts covering the company.

RECOMMENDATIONS

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 4 "strong buy" or "buy," 2 "hold" and 1 "sell" or "strong sell." The average consensus recommendation for the communications & networking peer group is "buy."

• Wall Street's median 12-month price target for Harmonic Inc is $11.00, about 18.2% above its last closing price of $9.00

This summary was machine generated from LSEG data July 28 at 09:01 p.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)