Why Harmonic Stock Arced 18% Higher Today
Shares of video streaming technology provider Harmonic (NASDAQ: HLIT) catapulted to a 17.8% gain through noon ET Tuesday after beating analyst targets for earnings and almost hitting sales targets last night.
Wall Street had forecast an $0.08 per share non-GAAP profit (generally accepted accounting principles) for the company, on sales of $157.8 million. Harmonic delivered all $0.12 of non-GAAP earnings, and its sales were $157.6 million.
Sales grew 7% year over year, led by a 23% gain in revenue from broadband services, and 72% from video software-as-a-service (SaaS). Gross profit margins on those revenues surged 640 basis points to 53.3%.
Source Fool.com
Harmonic Aktie
12,61 €
-0,84 %
Die Harmonic Aktie wird von der Community stark bevorzugt: Mehrere Buy-Einschätzungen, keine Sell-Einschätzungen.
Eine erhebliche Steigerung um mehr als 20% ist für Harmonic mit einem Kursziel von 16 € im Vergleich zum aktuellen Kurs von 12.61 € zu erwarten.
