Investing.com - Harmonic reported on Monday third quarter earnings that beat analysts' forecasts and revenue that topped expectations.
Harmonic announced earnings per share of $0.130 on revenue of $155.7M. Analysts polled by Investing.com anticipated EPS of $0.100 on revenue of $152.43M.
Harmonic shares are down 14% from the beginning of the year , still down 2.15% from its 52 week high of $15.79 set on Wednesday, October 26, 2022.
Harmonic shares lost 8.74% in after-hours trade the report.
Harmonic follows other major Information Technology sector earnings this month
Harmonic's report follows an earnings beat by Apple on Thursday, who reported EPS of $1.29 on revenue of $90.1B, compared to forecasts EPS of $1.26 on revenue of $88.76B.
Microsoft had beat expectations on Tuesday, October 25, 2022 with first quarter EPS of $2.35 on revenue of $50.1B, compared to forecast for EPS of $2.32 on revenue of $49.86B.
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