Investors are hoping that a strong backlog and a renewed commitment to its high-margin business will improve its long-term prospects.Shares of video-streaming technology company Harmonic (HLIT 16.44%) soared higher on Tuesday after reporting financial results for the first quarter of 2024. As of 2 p.m. ET, Harmonic stock was up 15% in stark contrast to the 1% drop for the Nasdaq.Revenue is down, but the backlog is upIn Q1, Harmonic generated revenue of $122 million, which was down 23% year over year. This i ...

Harmonic (HLIT) reported break-even quarterly earnings per share versus the Zacks Consensus Estimate of a loss of $0.01. This compares to earnings of $0.12 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 100%. A quarter ago, it was expected that this video services provider would post earnings of $0.10 per share when it actually produced earnings of $0.13, delivering a surprise of 30%.Over the last four quarters, the company h ...

New Beacon Application Maximizes Broadband Speeds, Improves Reliability, Enhances Quality of Experience and Lowers OPEXSAN JOSE, Calif., April 29, 2024 /PRNewswire/ -- Harmonic (NASDAQ: HLIT) today announced the new Beacon intelligent speed maximizer (ISM) application integrated on the cOS™ virtualized broadband platform alongside its market-leading vCMTS and fiber applications. The Beacon ISM provides greater spectrum efficiency to maximize upstream and downstream speeds on a per-subscriber basis, enhancin ...

Exhibit 99.1 FOR IMMEDIATE RELEASE Harmonic Announces First Quarter 2024 Results Results in Line with Guidance Reaf irming Broadband Full Year Revenue Guidance Increasing Full Year Video EBITDA Guidance SAN JOSE, California, April 29, 2024 - Harmonic Inc. (NASDAQ: HLIT) today announced its unaudited results for the first quarter of 2024. "Our first quarter results were within our guidance range and largely driven by our Broadband business," said Patrick Harshman, president and chief executive officer of Har ...

Harmonic (HLIT) is expected to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended March 2024. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on April 29. On the ...

SAN JOSE, Calif., April 15, 2024 /PRNewswire/ -- Harmonic (NASDAQ: HLIT) today announced it will release its first quarter 2024 financial results after the market close on Monday, April 29, 2024. Harmonic will host a live webcast to discuss the Company's results at 2:00 p.m. PT on the same day.To participate via telephone, please register in advance using this link,https://register.vevent.com/register/BI25a8c58a23b84db08431619b5ef84f3d. Upon registration, telephone participants will receive a confirmation e ...

Red Hat OpenShift CNF Certification Elevates Reliability and Security Capabilities for VOS Media Software Deployments in Data Centers SAN JOSE, Calif., April 12, 2024 /PRNewswire/ -- Harmonic (NASDAQ: HLIT) today announced that the company's VOS® Media Software is a validated cloud-native network function (CNF) on the Red Hat OpenShift. Media companies and service providers can now deploy any video streaming and broadcast workflows powered by VOS Media Software with the outstanding reliability, simplified o ...

Managed by Totaltel, Harmonic's VOS360 Media SaaS Delivers Unmatched Efficiency and Reliability in Cloud Playout SAN JOSE, Calif., April 11, 2024 /PRNewswire/ -- Harmonic (NASDAQ: HLIT) today announced the successful implementation of its cloud-native VOS®360 Media SaaS for Chilean content provider Filmocentro, significantly optimizing playout and primary distribution operations. Partnering closely with Chilean telecommunications supplier Totaltel, Harmonic has enabled Filmocentro to achieve unparalleled ef ...

SAN JOSE, Calif., April 9, 2024 /PRNewswire/ -- Harmonic (NASDAQ: HLIT) today announced it will host a conference call on Thursday, April 11, 2024 at 1:30 p.m. PT to discuss recent company announcements. To participate via telephone, please register in advance using this link,https://register.vevent.com/register/BI7c5189f64d0643b186ec2565e8edd2b5. Upon registration, telephone participants will receive a confirmation email detailing how to join the audio version of the webcast, including the dial-in number a ...

Nimrod Ben-Natan to Succeed Patrick Harshman as President & CEO, Effective June 11, 2024 Concludes Video Business Strategic Review Process Updates First Quarter 2024 Revenue Guidance SAN JOSE, Calif., April 8, 2024 /PRNewswire/ -- Harmonic (NASDAQ: HLIT) today announced that Patrick Harshman will retire as President and Chief Executive Officer, effective June 11, 2024. Nimrod Ben-Natan, currently Senior Vice President and General Manager of Harmonic's Broadband business, has been appointed as Mr. Harshman' ...