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Why Harmonic Stock Was Falling Today

TheMotleyFool

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Why Harmonic Stock Was Falling Today: https://g.foolcdn.com/editorial/images/707201/angry-trader-loss-charts-lose-money.png

Shares of Harmonic (NASDAQ: HLIT) are falling today, down 9.5% as of 1:57 p.m. ET.

Late Monday, the company reported better-than-expected earnings results for the third quarter, but the stock still slumped on lower revenue guidance for Q4. The shares have significantly outperformed the broader market this year, up 19% year to date.

Harmonic delivered revenue of $155.7 million, exceeding analysts' estimates for $152 million. The company also beat estimates on the bottom line, with earnings per share of $0.13 coming in ahead of the $0.10 consensus estimate.

Source Fool.com

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