AP NEWS

Infinera: 3Q Earnings Snapshot

November 12, 2019 GMT

SUNNYVALE, Calif. (AP) _ Infinera Corp. (INFN) on Tuesday reported a loss of $84.8 million in its third quarter.

On a per-share basis, the Sunnyvale, California-based company said it had a loss of 47 cents. Losses, adjusted for costs related to mergers and acquisitions and amortization costs, came to 17 cents per share.

The results met Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was also for a loss of 17 cents per share.

The communications equipment maker posted revenue of $325.3 million in the period, which fell short of Street forecasts. Four analysts surveyed by Zacks expected $329.6 million.

For the current quarter ending in December, Infinera expects its per-share loss to be 3 cents.

The company said it expects revenue in the range of $363 million for the fiscal fourth quarter.

Infinera shares have increased 32% since the beginning of the year. The stock has climbed 12% 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