Investing.com - Infinera reported on Wednesday third quarter earnings that missed analysts' forecasts and revenue that topped expectations.
Infinera announced earnings per share of $-0.050 on revenue of $390.4M. Analysts polled by Investing.com anticipated EPS of $0.011 on revenue of $380.55M.
Infinera shares are down 37% from the beginning of the year , still down 35.09% from its 52 week high of $9.86 set on Wednesday, December 29, 2021.
Infinera follows other major Information Technology sector earnings this month
Infinera's report follows an earnings beat by Apple on Thursday, October 27, 2022, 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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