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Harmonic Stock Drops on Q1 Results, Q2 Outlook

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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