Infinera: 2Q Earnings Snapshot
Aug. 07, 2018
SUNNYVALE, Calif. (AP) _ Infinera Corp. (INFN) on Tuesday reported a loss of $21.9 million in its second quarter.
On a per-share basis, the Sunnyvale, California-based company said it had a loss of 14 cents. Losses, adjusted for one-time gains and costs, were 1 cent per share.
The results topped Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for a loss of 4 cents per share.
The communications equipment maker posted revenue of $208.2 million in the period, which missed Street forecasts. Seven analysts surveyed by Zacks expected $209 million.
For the current quarter ending in October, Infinera expects its results to range from a loss of 7 cents per share to a loss of 3 cents per share.
The company said it expects revenue in the range of $200 million to $220 million for the fiscal third quarter.
Infinera shares have risen 37 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $8.69, a drop of 6 percent in the last 12 months.