Harmonic downgraded to Underperform from Market Perform at Raymond James Raymond James downgraded Harmonic following supply chain and customer checks that indicate a more cautious outlook near-term. The firm said operators priorities favor Set Top Boxes modems and routing, offsetting budgets for encoding and edge QAMs.
Harmonic sees Q3 revenue $81M-$84M, consensus $99.28M Sees Q3 Non-GAAP gross margins in the range of 54.5%-56.0%. Sees Q3 Non-GAAP operating expenses in the range of $46.5M-$48M. Bookings for Q3 are anticipated to be in the range of $74M-$75M.