CommScope: 2Q Earnings Snapshot
HICKORY, N.C. (AP) _ CommScope Holding Co. (COMM) on Thursday reported a second-quarter loss of $334 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Hickory, North Carolina-based company said it had a loss of $1.81. Earnings, adjusted for one-time gains and costs, came to 66 cents per share.
The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 58 cents per share.
The wireless and broadband network technology company posted revenue of $2.57 billion in the period, missing Street forecasts. Five analysts surveyed by Zacks expected $2.59 billion.
For the current quarter ending in October, CommScope expects its per-share earnings to range from 37 cents to 47 cents.
The company said it expects revenue in the range of $2.3 billion to $2.5 billion for the fiscal third quarter.
CommScope shares have decreased 21% since the beginning of the year. The stock has decreased 59% in the last 12 months.