Here's Why Harmonic Stock Soared Higher While the Nasdaq Dropped [Yahoo! Finance]
Charter Communications, Inc. - Class A (CHTR)
Last charter communications, inc. - class a earnings: 5/1 07:00 am
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Source: Yahoo! Finance
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 up In Q1, Harmonic generated revenue of $122 million, which was down 23% year over year. This included a 21% decline in its broadband-segment revenue and a 25% decline in its smaller video-segment revenue. The company's gross margin also went down. And on the bottom line, it had a net loss of $8 million compared with net income of $5 million in the prior-year period. With all the financial metrics trending in the wrong direction, investors might rightly wonder why Harmonic stock is up. Here's why: There's some cyclicality with the company's revenue, and one number points to improvements in the near future. Harmonic's backlog was at $678 million at the end of Q1. Not only is this a record backlog for the company, the backlog was up 9% year over year. Therefore, this metric is pointing to revenue growth in the not-so-distant future as this backlog is rea
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CHTR
Earnings
- 4/26/24 - Miss
CHTR
Sec Filings
- 5/17/24 - Form 144
- 5/10/24 - Form 8-K
- 5/6/24 - Form 4
- CHTR's page on the SEC website