CommScope: 2Q Earnings Snapshot
HICKORY, N.C. (AP) _ CommScope Holding Co. (COMM) on Thursday reported a loss of $321.1 million in its second quarter.
On a per-share basis, the Hickory, North Carolina-based company said it had a loss of $1.71. Earnings, adjusted for one-time gains and costs, were 32 cents per share.
The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 21 cents per share.
The wireless and broadband network technology company posted revenue of $2.1 billion in the period, which also topped Street forecasts. Four analysts surveyed by Zacks expected $2.05 billion.
CommScope shares have dropped 33% since the beginning of the year. The stock has decreased 29% in the last 12 months.