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%.

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Source Fool.com