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Why Harmonic Stock Is Up Today

TheMotleyFool

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Shares of Harmonic (NASDAQ: HLIT), a virtualized cable access and video delivery company, were rising Tuesday after it reported better-than-expected first-quarter results on both the top and bottom lines.

The tech stock was up an impressive 15% as of 2:11 p.m. ET.

The company reported first-quarter sales of $147.4 million -- up 32% year-over-year -- which beat analysts' consensus estimate of $136.4 million. Harmonic's non-GAAP earnings per share of $0.08 -- up from $0.04 in the year-ago quarter -- also surpassed Wall Street's expectation of $0.04 per share.

Source Fool.com

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