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Harmonic Third Quarter 2024 Earnings: Beats Expectations
Harmonic (NASDAQ:HLIT) Third Quarter 2024 Results
Key Financial Results
- Revenue: US$195.8m (up 54% from 3Q 2023).
- Net income: US$21.7m (up from US$6.50m loss in 3Q 2023).
- Profit margin: 11% (up from net loss in 3Q 2023).
- EPS: US$0.19 (up from US$0.058 loss in 3Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Harmonic Revenues and Earnings Beat Expectations
Revenue exceeded analyst estimates by 7.2%. Earnings per share (EPS) also surpassed analyst estimates by 192%.
Looking ahead, revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 7.3% growth forecast for the Communications industry in the US.
Performance of the American Communications industry.
The company's shares are down 24% from a week ago.
Risk Analysis
You should learn about the 4 warning signs we've spotted with Harmonic.
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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.
About NasdaqGS:HLIT
Harmonic
Provides broadband solutions worldwide.