Infinera Expects Preliminary 4Q23 Revenue And Net Income Per Diluted Share To Be Within Or Exceed The Previously Provided Ranges Of $421M-$451M ($436.88M Est.) And $0.05-$0.13 ($0.09 Est.)
Portfolio Pulse from Benzinga Newsdesk
Infinera Corporation expects its preliminary revenue and net income per diluted share for Q3 and Q4 of 2023 to be within or exceed the previously provided estimates. Q3 and Q4 estimates were $421M-$451M and $0.05-$0.13 per share, respectively. The company attributes this performance to strong bookings and free cash flow generation in Q4. CFO Nancy Erba expressed satisfaction with the financial results and the company's focus on filing the Q3 Form 10-Q. Infinera also submitted a compliance plan to Nasdaq on January 9, 2024.
January 11, 2024 | 6:41 am
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Infinera Corporation expects to meet or exceed its Q3 and Q4 2023 revenue and earnings estimates, with strong bookings and cash flow generation in Q4. The company is also working on regaining compliance with Nasdaq listing requirements.
The positive outlook for both revenue and earnings per share suggests that Infinera is performing well financially, which is likely to be viewed favorably by investors. The strong bookings and cash flow generation indicate a healthy demand for the company's products and services. The effort to regain compliance with Nasdaq listing rules shows management's commitment to maintaining the company's stock listing, which can reassure investors. Overall, this news is likely to have a positive short-term impact on INFN's stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100