AP NEWS

Infinera: 3Q Earnings Snapshot

November 6, 2018

SUNNYVALE, Calif. (AP) _ Infinera Corp. (INFN) on Tuesday reported a loss of $32.6 million in its third quarter.

On a per-share basis, the Sunnyvale, California-based company said it had a loss of 21 cents. Losses, adjusted for one-time gains and costs, came to 4 cents per share.

The results matched Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was also for a loss of 4 cents per share.

The communications equipment maker posted revenue of $200.4 million in the period, which fell short of Street forecasts. Eight analysts surveyed by Zacks expected $210.8 million.

For the current quarter ending in December, Infinera expects its results to range from a loss of 30 cents per share to a loss of 26 cents per share.

The company said it expects revenue in the range of $315 million to $335 million for the fiscal fourth quarter.

Infinera shares have dropped roughly 2 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $6.23, a fall of 25 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on INFN at https://www.zacks.com/ap/INFN

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