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Infinera: 1Q Earnings Snapshot

SUNNYVALE, Calif. (AP) _ Infinera Corp. (INFN) on Wednesday reported a loss of $121.6 million in its first quarter.

On a per-share basis, the Sunnyvale, California-based company said it had a loss of 69 cents. Losses, adjusted for one-time gains and costs, were 23 cents per share.

The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for a loss of 27 cents per share.

The communications equipment maker posted revenue of $292.7 million in the period, which fell short of Street forecasts. Eight analysts surveyed by Zacks expected $311.3 million.

For the current quarter ending in July, Infinera expects its results to range from a loss of 30 cents per share to a loss of 26 cents per share.

The company said it expects revenue in the range of $288 million to $308 million for the fiscal second quarter.

In the final minutes of trading on Wednesday, the company's shares hit $4.42. A year ago, they were trading at $11.80.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on INFN at https://www.zacks.com/ap/INFN