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Jun 28, 2024
Harmonic Q2 2024 Earnings Report
Reported revenue at the high end of guidance, with profitability exceeding expectations in both Broadband and Video businesses.
Key Takeaways
Harmonic Inc. announced its Q2 2024 results with revenue of $138.7 million, a 14% increase quarter over quarter, reaching the high end of the company's guidance. Profitability in both the Broadband and Video segments exceeded expectations.
Revenue reached $138.7 million, up 14% quarter over quarter and at the high end of guidance.
Broadband segment revenue was $92.9 million.
Video segment revenue was $45.8 million.
The company commercially deployed its cOSTM solution with 118 customers, serving 30.1 million cable modems.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Harmonic anticipates revenue between $175 million and $190 million for Q3 2024, with gross profit between $91 million and $101 million.
Positive Outlook
- Q3 2024 revenue is expected to be between $175 million and $190 million.
- Q3 2024 gross profit is projected to be between $91 million and $101 million.
- Q3 2024 net income is forecasted to be between $16 million and $22 million.
- 2024 revenue is expected to be between $645 million and $695 million.
- 2024 gross profit is projected to be between $332 million and $369 million.
Challenges Ahead
- Q3 2024 total operating expense is anticipated to be between $67 million and $69 million.
- Q3 2024 tax rate is expected to be 24%.
- 2024 total operating expense is anticipated to be between $296 million and $304 million.
- 2024 tax rate is expected to be 24%.
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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