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SAN JOSE, Calif. (AP) — SAN JOSE, Calif. (AP) — Harmonic Inc. (HLIT) on Monday reported third-quarter profit of $21.7 million.
The San Jose, California-based company said it had net income of 19 cents per share. Earnings, adjusted for one-time gains and costs, were 26 cents per share.
The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 20 cents per share.
The video services provider posted revenue of $195.8 million in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $178.1 million.
For the current quarter ending in December, Harmonic expects its per-share earnings to range from 26 cents to 31 cents.
The company said it expects revenue in the range of $205 million to $220 million for the fiscal fourth quarter.
Harmonic expects full-year earnings in the range of 67 cents to 73 cents per share, with revenue ranging from $662 million to $677 million.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on HLIT at https://www.zacks.com/ap/HLIT