Harmonic Gains 10%+ After Hours on Well-Received Q3 Results

HLIT added 11% to $16.45 shortly before 5 p.m. ET after reporting that net income came in at $0.26 per share, up from break-even in the same period last year and beating the $0.22 that analysts had reportedly expected.

Revenues totaled $195.8 million, rising 54% from the $127.2 million seen in Q3 2023 and better than the $182.7 million analysts had forecast, according to published reports.

"Our third-quarter results demonstrated strong execution as we achieved record total company revenue and adjusted EBITDA, with both broadband and video revenue exceeding expectations," President and CEO Nimrod Ben-Natan said in releasing the results. "This strong quarterly performance coupled with our market leading technology solutions leaves us well-positioned for further future growth."

HLIT's after-hours gains came after the firm rose during regular-hours trading to as high as $15.46, the stock's best intraday level since July 2023.