Harmonic raises 2026 broadband revenue outlook to $505 mln-$525 mln
Company expects Q3 revenue between $125 mln and $135 mln
Harmonic sees 2026 non-GAAP net income per share of $0.67-$0.75
Overview
Harmonic's Q2 Broadband revenue rose 54% yr/yr, beating analyst expectations
Adjusted EPS for Q2 beat analyst expectations
Company completed Video business sale, boosting cash and focus on broadband
Result drivers
REST-OF-MARKET GROWTH - Co said Rest-of-Market broadband revenue grew 44% yr/yr and accounted for about 60% of Q2 bookings, aiding overall revenue acceleration
NEW PRODUCT DEPLOYMENTS - Co cited first SeaStar MDU deployment and multi-million dollar orders for Pearl-1XL and Oyster+ fiber products as contributing to Q2 results
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 4 "strong buy" or "buy", 2 "hold" and 1 "sell" or "strong sell"
The average consensus recommendation for the communications & networking peer group is "buy."
Wall Street's median 12-month price target for Harmonic Inc. is $15.00, about 31% above its August 11 closing price of $11.45
The stock recently traded at 16 times the next 12-month earnings vs. a P/E of 19 three months ago
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