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Mar 31, 2023
Harmonic Q1 2023 Earnings Report
Reported strong first quarter results with record revenue and solid operating profit.
Key Takeaways
Harmonic Inc. reported strong Q1 2023 results with record first quarter revenue of $157.6 million, up 7% year over year, and solid operating profit. Broadband segment revenue rose 23% and Video SaaS revenue growth was 72%.
Revenue was $157.6 million, up 7% year over year.
Broadband segment revenue was up 23% year over year.
Video SaaS revenue was up 72% year over year.
GAAP operating income was $11.2 million compared to $2.5 million in the year ago period.
Revenue by Geographic Location
Forward Guidance
The company provided GAAP financial guidance for Q2 2023 with net revenue between $161 million and $171 million and EPS between $0.04 and $0.06. For 2023, net revenue is expected to be between $705 million and $740 million and EPS between $0.26 and $0.33.
Positive Outlook
- Q2 2023 revenue is expected to be between $161 million and $171 million.
- Q2 2023 gross margin is expected to be between 51.7% and 52.8%.
- Q2 2023 EPS is expected to be between $0.04 and $0.06.
- 2023 revenue is expected to be between $705 million and $740 million.
- 2023 EPS is expected to be between $0.26 and $0.33.
Challenges Ahead
- Q2 2023 operating expenses are expected to be between $73 million and $75 million.
- Q2 2023 operating income is expected to be between $4 million and $7 million.
- Q2 2023 tax rate is expected to be 53%.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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