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Arris on track despite Q2 losses
By
Bruce McClelland
Arris said it remains on track to achieve results within its full year 2017 guidance ranges, despite reporting year-on-year declines in both earnings and revenue.
Announcing its second quarter results, Arris said it made a net income of US$30.3 million (€25.6 million), down 64% year-on-year from US$84.2 million in Q2 2016.
Revenue came to US$1.664 billion, down US$66 million or 4% compared to the second quarter of 2016.
“We entered the second quarter with significantly increased momentum across both our segments and exceeded our expectations,” said Arris CEO, Bruce McClelland.
“Growing consumer internet usage delivering high value video content fuels the increasing investment in broadband capacity. With respect to the third quarter 2017, we expect performance to improve further with revenues in a range of US$1.740 billion to US$1.790 billion, GAAP net income per diluted share of US$0.23 to US$0.28, and adjusted net income per diluted share of US$0.66 to US$0.71.
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