- Though Infinera (NASDAQ:INFN) moderately beat Q4 estimates, shares have tumbled to $12.50 after hours.
- No guidance was given in the earnings release - Infinera typically guides on its earnings call, which starts at 5PM ET (webcast). It's possible markets were expecting a larger sales/EPS beat, similar to the one Infinera delivered in October.
- With the help of the Transmode acquisition, product revenue rose 43% Y/Y in Q4 to $227M, and services revenue 19% to $33M. GAAP operating expenses rose 43% to $102M, with $52.6M spent on R&D. Non-GAAP gross margin was 48.3%, up 80 bps Q/Q and 240 bps Y/Y, and above guidance of 47% (+/- 1%).
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Infinera's Q4 results, earnings release
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Update (6:27PM ET): Infinera provided in-line Q1 guidance on its earnings call Shares are now up 2.9%.