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Why Shares of Harmonic Jumped Today

TheMotleyFool

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Shares of Harmonic (NASDAQ: HLIT) rose on Tuesday after the provider of video delivery technology and services reported its third-quarter results. It beat analyst estimates for both revenue and earnings, and it provided guidance that was ahead of expectations. The stock was up 16.9% at 11:50 a.m. EDT today.

Third-quarter revenue was $115.7 million, up 15% year over year and about $900,000 higher than the average analyst estimate. Revenue from software as a service (SaaS) and other services was $32.6 million, up 13.9% year over year.

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Source Fool.com

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