Harmonic jumps after raising full-year forecast, beating Q2 earnings estimates

Broadband solutions provider Harmonic's shares jumped more than 25% to $15.06 in premarket trading after the company raised its full-year forecast and beat second-quarter earnings estimates.

The company now expects full-year adjusted earnings per share between 67 and 75 cents, up from its prior range of 57 to 67 cents. Harmonic also raised its 2026 broadband revenue outlook to $505 million to $525 million.

Second-quarter adjusted EPS was 24 cents, beating analysts' estimates of 17 cents. Revenue was $173 million versus estimates of $120.88 million, according to LSEG-compiled data.

Four out of six brokerages rate the stock "buy"; their median price target is $16, according to LSEG-compiled data. Up to the previous day's close, the stock was up 21.3% year to date.