Harmonic First Quarter 2024 Earnings: EPS Misses Expectations

Harmonic (NASDAQ:HLIT) First Quarter 2024 Results

Key Financial Results

• Revenue: US$122.1m (down 23% from 1Q 2023).
• Net loss: US$8.09m (down by 259% from US$5.09m profit in 1Q 2023).
• US$0.072 loss per share (down from US$0.046 profit in 1Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Harmonic EPS Misses Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 7.7%.

Looking ahead, revenue is forecast to grow 19% p.a. on average during the next 2 years, compared to a 4.6% growth forecast for the Communications industry in the US.

Performance of the American Communications industry.

The company's shares are up 12% from a week ago.

Risk Analysis

Don't forget that there may still be risks. For instance, we've identified 2 warning signs for Harmonic that you should be aware of.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.