SAN JOSE, Calif. (AP) — SAN JOSE, Calif. (AP) — Harmonic Inc. (HLIT) on Monday reported first-quarter net income of $7.3 million.
On a per-share basis, the San Jose, California-based company said it had net income of 7 cents. Earnings, adjusted for stock option expense and to account for discontinued operations, came to 17 cents per share.
The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 12 cents per share.
The video services provider posted revenue of $121.7 million in the period, also exceeding Street forecasts. Six analysts surveyed by Zacks expected $101.9 million.
Harmonic expects full-year revenue in the range of $475 million to $495 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
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