CommScope: 1Q Earnings Snapshot
HICKORY, N.C. (AP) _ CommScope Holding Co. (COMM) on Thursday reported a loss of $159.9 million in its first quarter.
The Hickory, North Carolina-based company said it had a loss of 89 cents per share. Earnings, adjusted for one-time gains and costs, came to 12 cents per share.
The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 8 cents per share.
The wireless and broadband network technology company posted revenue of $2.03 billion in the period, also topping Street forecasts. Four analysts surveyed by Zacks expected $1.98 billion.
CommScope shares have declined 21% since the beginning of the year. The stock has fallen 53% in the last 12 months.