Harmonic Stock Drops on Q1 Results, Q2 Outlook

But company says its making progress with Cable OS, its virtual CCAP
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SAN JOSE, CALIF.—After missing its first quarter numbers and lowering guidance for the current quarter, Harmonic shares took an 11 percent tumble on Tuesday morning. The company posted $83.5 million in sales, which were up from Q1 2016, but below Wall Street expectations of $93.2 million. Harmonic’s Q2 forecasted sales were then adjusted to $95 million to $103 million, down from the estimated $103.6 million.

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