Infinera Corp. (NASDAQ:INFN) had a loss and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 0%.
Infinera Corp. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $-0.01 in the quarter versus EPS of $-0.07 in the year-earlier quarter.
Revenue: Rose 48.08% to $138.4 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Infinera Corp. reported adjusted EPS loss of $0.01 per share. By that measure, the company missed the mean analyst estimate of $0. It beat the average revenue estimate of $135.04 million.
Quoting Management: “We continued to increase momentum in the second quarter, delivering strong revenue growth, improved gross margin, and positive cash flow from operations,” said Tom Fallon, chief executive officer. “Customer acceptance of the DTN-X platform also continues to grow. During the quarter, we received seven new purchase commitments, including three from customers new to Infinera, bringing the total number of commitments to 34 since the platform was introduced a year ago.
“Our success reflects the strategic commitment of our customers to a new architecture as they face massive traffic growth, operational complexity and increasing demand for instant delivery of services. Infinera’s recently announced Intelligent Transport Network offers a clear path for service providers to address these challenges, while providing a compelling economic value proposition.
“We remain focused on winning new network deployments and expanding our market presence to generate sustainable revenue growth and profitability in the future while we help our customers prepare for the Terabit Era.”
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