Welcome to our dedicated page for Harmonic news (Ticker: HLIT), a resource for investors and traders seeking the latest updates and insights on Harmonic stock.
Harmonic Inc (NASDAQ: HLIT) is a global leader in video delivery technology and services, enabling media companies and service providers to offer high-quality broadcast and OTT video services worldwide. The company has also pioneered cable access networking with the industry’s first virtualized CCAP solution, allowing cable operators to deploy gigabit internet services to homes and mobile devices more flexibly.
Harmonic operates in two primary segments: Video and Broadband. The Video segment provides video processing, production, and playout solutions to a range of clients including cable operators, satellite providers, and telecommunications companies. The Broadband segment focuses on broadband access solutions and related services, with most of the company's revenue coming from the United States.
Recent achievements include showcasing AI-powered innovations at the 2024 NAB Show, emphasizing live sports streaming, targeted advertising, and broadcast distribution. Harmonic's VOS®360 portfolio, XOS media processor, and Spectrum™ X media server are leading the charge in enabling broadcasters and service providers to unlock new monetization opportunities and improve streaming experiences.
In corporate developments, Patrick Harshman announced his retirement as CEO effective June 2024, with Nimrod Ben-Natan set to succeed him. Ben-Natan has been instrumental in the development and deployment of the Company’s virtualized broadband technology. Harmonic's strategic direction includes a focus on profitable growth for its Video business and innovative advancements in broadband services, as demonstrated by its new Beacon intelligent speed maximizer application.
Harmonic continues to drive innovation in broadband and video delivery solutions, featuring its market-leading cOS™ platform, which supports over 28 million homes globally. The company aims to enhance user experience and optimize monetization strategies for live and on-demand content on every screen.
Harmonic announced that Walter Jankovic, CFO, will participate in the 19th Annual Needham Technology, Media & Consumer Conference and the Jefferies Software Conference. The CFO will engage in a fireside chat in New York on May 14, 2024, and host meetings throughout the day. Additionally, he will host investor meetings in Newport Coast, CA, on May 30, 3024. A live webcast will be available on Harmonic's website.
Harmonic announced the integration of the Beacon intelligent speed maximizer (ISM) application on the cOS virtualized broadband platform, enhancing spectrum efficiency and maximizing broadband speeds for subscribers. The Beacon ISM improves quality of experience, reduces operating expenses, and increases network reliability, offering scalability and security benefits compared to traditional profile management applications. This breakthrough technology aims to empower operators to deliver faster and more reliable services to subscribers while simplifying deployment and addressing network impairments in real-time.
Harmonic Inc. announced its Q1 2024 results, meeting guidance. Revenue at $122.1M with Broadband leading. Record backlog & deferred revenue. Video EBITDA guidance raised. Financials showed a dip from previous year in revenue, net income, and gross margin. Operating loss but increased backlog and customer base. Focus on restructuring Video segment for growth.
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