- Harmonic (HLIT +3.5%) beat on top and bottom lines in Q3 earnings despite revenue that gained sequentially but fell off vs. the same quarter last year.
- It hit record backlog and deferred revenue of $200.9M; its CableOS backlog is greater than $20M.
- The company has also surpassed 20,000 live over-the-top channels powered globally.
- Revenue breakout: Product, $58.2M (down 17.2%); Services, $33.85M (up 8.7%).
- For Q4, it's guiding to (non-GAAP) revenue of $90M-$100M (Video, $89M-$86M; Cable Edge of $10M-$14M); gross profit of $47M-$53.5M; income from operations of -$3M to $5.5M; and net income of -$4M to $3M.
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Conference call to come at 5 p.m. ET.
- Press Release