Infinera beats on profits in mixed Q2

|About: Infinera Corporation (INFN)|By:, SA News Editor

Infinera (NASDAQ:INFN) is up 0.6% in late trading after posting a mixed report for Q2, with a narrow miss on revenues matched by a smaller-than-expected net loss.

The company logged "strong margins and our fifth consecutive quarter of revenue growth, as customers continued to adopt our next-generation products,” says CEO Tom Fallon. For the second half: "We believe adding Coriant’s capabilities and extensive customer base to our vertically integrated operating model and refreshed product portfolio will allow us to enter 2019 in a position of strength."

Revenue breakout: Products, $175.3M (up 22.3%); Services, $32.94M (down 1.6%).

For the current quarter, it's guiding to revenue of $200M-$220M (vs. $209.6M consensus); non-GAAP gross margin of 36-40%; operating margin of -3% and EPS of -$0.07 to -$0.03 (worse than consensus for -$0.02).

Conference call to come at 5 p.m. ET.

Press release

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