CommScope (COMM) Q1 Loss Narrower Than Expected, Sales Fall

CommScope Holding Company, Inc. (COMM) reported soft first-quarter 2024 results, with a decrease in revenues and earnings on a year-over-year basis. Lower capital spending from customers, inventory adjustments, macroeconomic challenges and decrease in net sales in major business verticals led to top-line contraction year over year. However, both the bottom line and top line beat the respective Zacks Consensus Estimate.Net IncomeOn a GAAP basis, the company recorded a net loss of $375.2 million or a loss of ...