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Why Harmonic Stock Jumped on Tuesday

TheMotleyFool

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Shares of Harmonic (NASDAQ: HLIT) are up big on Tuesday after the company reported third-quarter results that beat Wall Street's expectations. The stock was up as much as 19% on the day, and as of this writing, shares are up 13.4%.

After the market closed on Monday, Harmonic released its financial results for the three months ending in September. Revenue was $126.3 million in the quarter, and its adjusted earnings per share were $0.09. Both numbers beat the consensus analyst estimates coming into the release, which is why Harmonic stock is up so much today.

Image source: Getty Images.

Source Fool.com

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