Harmonic Shares Popped: What You Need to Know
Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of Harmonic (NAS: HLIT) have popped today, up by as much as 16%, after the company reported fourth-quarter earnings.
So what: Revenue tallied up to $143.6 million, resulting in earnings per share of $0.12. The top line bested the $140.5 million estimate, while earnings came in right on target. Full year revenue was $549.3 million with earnings of $0.41 per share.
Now what: First-quarter guidance came in lighter than expected, which frequently is punishing for companies. Revenue is forecast between $132 million and $142 million, lower than the $144.75 consensus estimate, but it seems like investors are focusing on the bright side of things. CEO Patrick Harshman chalked up the year's results to increased video processing wins throughout its expanding global customer base.
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