Harmonic Cuts FY23 Net Revenue Outlook From $705M-$740M To $620M-$660M (Consensus $723.18M)
Portfolio Pulse from Benzinga Newsdesk
Harmonic has reduced its FY23 net revenue outlook from $705M-$740M to $620M-$660M, which is below the consensus estimate of $723.18M.

July 31, 2023 | 10:01 pm
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NEGATIVE IMPACT
Harmonic's lowered FY23 net revenue outlook may negatively impact its stock price in the short term.
Harmonic's revised FY23 net revenue outlook is significantly lower than the previous estimate and falls short of the consensus estimate. This could lead to a negative market reaction, potentially causing a short-term decline in the company's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100