CommScope: 2Q Earnings Snapshot
HICKORY, N.C. (AP) _ CommScope Holding Co. (COMM) on Tuesday reported second-quarter earnings of $65.9 million.
On a per-share basis, the Hickory, North Carolina-based company said it had net income of 34 cents. Earnings, adjusted for one-time gains and costs, were 68 cents per share.
The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 65 cents per share.
The wireless and broadband network technology company posted revenue of $1.24 billion in the period, also topping Street forecasts. Four analysts surveyed by Zacks expected $1.23 billion.
For the current quarter ending in October, CommScope expects its per-share earnings to range from 63 cents to 68 cents.
The company said it expects revenue in the range of $1.19 billion to $1.24 billion for the fiscal third quarter.
CommScope expects full-year earnings in the range of $2.33 to $2.48 per share, with revenue ranging from $4.68 billion to $4.83 billion.
CommScope shares have dropped 19 percent since the beginning of the year. The stock has declined 17 percent in the last 12 months.