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