Why Harmonic Stock Was Out of Tune Today
It's always pleasant for investors when one of their companies scores a double beat on quarterly results, topping analyst expectations for both revenue and profitability. But sometimes that isn't enough to carry the day, as some other key figures might not be as strong as anticipated.
Such was the dynamic behind the sell-off in Harmonic (NASDAQ: HLIT) on Tuesday. The video-streaming technology company's share price dived by more than 7% after it unveiled its latest set of quarterly figures.
Just after market hours, Harmonic published its fourth-quarter and full-year 2022 results. These showed that the company earned just over $164 million in revenue. That, by the way, was an all-time quarterly high for Harmonic, and represented nearly 6% year-over-year growth.
Source Fool.com
