Stock Track | Harmonic Stock Plunges 26% on Cautious 2025 Outlook Despite Q3 Earnings Beat

Stock Track10-29

Harmonic Inc. (NASDAQ: HLIT) shares plummeted by over 26% on Monday, October 29, 2024, despite the video technology company reporting better-than-expected financial results for the third quarter of 2024. The stock's sharp decline was driven by Harmonic's cautious outlook for fiscal year 2025, which overshadowed its strong performance in the latest quarter.

For the third quarter ended September 30, 2024, Harmonic posted adjusted earnings of $0.26 per share, surpassing analysts' consensus estimates of $0.22 per share. Revenue also came in ahead of expectations at $195.8 million, compared to the $181.9 million analysts had forecast, representing a 54% year-over-year increase.

However, during the earnings call, Harmonic's Chief Financial Officer Walter Jankovic warned that the company expects short-term headwinds as customers reconsider their deployment plans and timing. "Therefore, as we look at next year, we are being cautious about the expectation for fiscal 2025," Jankovic stated.

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(NASDAQ: HLIT) shares plummeted by over 26% on Monday, October 29, 2024, despite the video technology company reporting better-than-expected financial results for the third quarter of ...</p>\n\n<a href=\"\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"HLIT","symbol_name":"谐波","start_time":0,"source_url":"","article_id":"1109213700","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1109213700","pubTimestamp":1730208924,"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Harmonic Inc.  shares plummeted by over 26% on Monday, October 29, 2024, despite the video technology company reporting better-than-expected financial results for the third quarter of 2024. 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