Harmonic Q3 down 18%

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Harmonic has announced its unaudited results for the third quarter of 2020.  The solutions provider for video streaming and broadband services reported revenue of $94.9 million (€80.2m), down 18 per cent year on year, despite strong momentum.

“Harmonic’s third quarter results were driven by strong performance in both our Cable Access and Video segments,” said Patrick Harshman, president and chief executive officer of Harmonic. “Our Cable Access segment delivered solid sequential revenue growth and operating margin. Complementing this, Video segment revenue rebounded strongly quarter over quarter, reflecting increased customer activity. We continue to execute well on our strategic priorities, and we expect this strong business momentum will continue through the balance of the year.”

Business highlight include:

  • CableOS solution commercially deployed with 38 customers as of October 14th 2020 (the date of Cable-Tec Expo 2020, a leading industry conference), up 100 per cent compared to the third quarter of the prior year.
  • CableOS deployments scaled to 2.1 million served cable modems, up 122 per cent year over year.
  • Over 48,000 live-streaming channels deployed globally, up 15 per cent year over year.
  • Received first multi-million-dollar order for the new 5G bandwidth reclamation solution.

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