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Harmonic (HLIT) to Report Q4 Earnings: What's in the Cards?

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Harmonic Inc. (HLIT - Free Report) is scheduled to report fourth-quarter 2021 results on Jan 31, after the closing bell. In the last reported quarter, the company’s earnings per share beat the Zacks Consensus Estimate by 5 cents, delivering a surprise of 125%.

The San Jose, CA-based company is expected to have recorded year-over-year higher revenues on the back of strong market momentum along with the execution of growth initiatives.

During the quarter, Harmonic integrated Google Cloud Marketplace in its CableOS cloud-native core platform. The integration provides operators using the CableOS Platform access to Google Cloud Marketplace applications, allowing them to deploy new revenue-generating services.

Harmonic expanded its fiber-to-the-home PON capabilities with a 60G-capable remote switch that leverages its CableOS solution to bridge the rural divide and improve broadband deployment flexibility.

Colombian telecommunications leader Claro Colombia fueled its Claro Box TV streaming service with Harmonic. The Harmonic solution, powered by the company’s VOS cloud-native software, increases Claro Colombia’s business agility while ensuring an exceptional quality for subscribers.

Harmonic partnered with Rogers Communications, a leading technology and media company in Canada, to power the latter’s multi-gigabit broadband services using Harmonic’s CableOS cloud-native converged core platform. These developments are likely to have positively impacted Harmonic’s performance in the fourth quarter.

For the December quarter, the Zacks Consensus Estimate for revenues is pegged at $152 million, which indicates growth of 15.2% from the year-ago quarter’s reported figure. The consensus estimate for adjusted earnings per share is pegged at 14 cents, which suggests a decline of 30%.

What Our Model Says

Our proven model doesn’t conclusively predict an earnings beat for Harmonic this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Earnings ESP: Harmonic’s Earnings ESP, which represents the difference between the Most Accurate Estimate and the Zacks Consensus Estimate, is 0.00% as both are pegged at 14 cents.

Harmonic Inc. Price and EPS Surprise

Harmonic Inc. Price and EPS Surprise

Harmonic Inc. price-eps-surprise | Harmonic Inc. Quote

Zacks Rank: Harmonic currently carries a Zacks Rank #3.

Stocks to Consider

Here are some companies that you may want to consider as our model shows that these have the right combination of elements to post an earnings beat this quarter:

Alphabet Inc. (GOOGL - Free Report) is set to release quarterly numbers on Feb 1. It has an Earnings ESP of +2.11% and a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.

The Earnings ESP for Cirrus Logic, Inc. (CRUS - Free Report) is +1.48% and it carries a Zacks Rank of 2. The company is set to report quarterly numbers on Jan 31.

The Earnings ESP for Meta Platforms, Inc. is +2.52% and it carries a Zacks Rank of 3. The company is scheduled to report quarterly numbers on Feb 2.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.


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