Harmonic (NASDAQ:HLIT) reported its Q1 earnings results on Monday, May 2, 2022 at 04:00 PM.
Here's what investors need to know about the announcement.
Earnings
Harmonic beat estimated earnings by 100.0%, reporting an EPS of $0.08 versus an estimate of $0.04.
Revenue was up $35.86 million from the same period last year.
Past Earnings Performance
Last quarter the company beat on EPS by $0.03 which was followed by a 14.31% drop in the share price the next day.
Here's a look at Harmonic's past performance:
| Quarter | Q4 2021 | Q3 2021 | Q2 2021 | Q1 2021 |
|---|---|---|---|---|
| EPS Estimate | 0.13 | 0.03 | 0.03 | |
| EPS Actual | 0.16 | 0.09 | 0.05 | 0.04 |
| Revenue Estimate | 149.02M | 117.83M | 107.52M | 102.21M |
| Revenue Actual | 155.80M | 126.32M | 113.45M | 111.58M |
New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).
Guidance
Harmonic management provided guidance for FY 2022, expecting earnings between $0.34 and $0.45 per share.
To track all earnings releases for Harmonic visit their earnings calendar here.
This article was generated by Benzinga's automated content engine and reviewed by an editor.
