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Infinera: 3Q Earnings Snapshot

·1 min read

SUNNYVALE, Calif. (AP) _ Infinera Corp. (INFN) on Thursday reported a loss of $35.9 million in its third quarter.

On a per-share basis, the Sunnyvale, California-based company said it had a loss of 19 cents. Earnings, adjusted for amortization costs and stock option expense, were 2 cents per share.

The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 5 cents per share.

The communications equipment maker posted revenue of $340.2 million in the period, which also topped Street forecasts. Six analysts surveyed by Zacks expected $336.5 million.

For the current quarter ending in December, Infinera said it expects revenue in the range of $339 million to $369 million.

Infinera shares have dropped roughly 10% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $7.15, a rise of 21% in the last 12 months.

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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