Arris Beats the Street
Arris Group Inc. (Nasdaq: ARRS) announced profits Wednesday that handily beat Wall Street's projections, although revenues dropped compared with a year ago.
The cable gear vendor posted net income of $16.7 million, or 13 cents per share, on revenues of $265.8 million. That's down from a year-ago profit of $19.7 million, or 15 cents per share, and revenues of $280.6 million. Arris's non-GAAP net income of 24 cents per share beat the analyst consensus of 18 cents reported by Thomson Reuters , while revenues were short of the expected $271.5 million.
Looking ahead to its third quarter, Arris is projecting revenues of $270 million to $290 million and non-GAAP net income of 19 to 23 cents per share. Analysts had been looking for $282.55 million and 21 cents per share.
The earnings news comes as Arris is trying to establish its line of denser cable modem termination system (CMTS) line cards and is looking for more takers for a hybrid QAM/IP gateway that came from its acquisition of Paul Allen's Digeo Inc. (See Arris CMTS Packs On Upstream Muscle and Shaw Deploys Arris Video Gateway.)
Arris shares closed down 40 cents (3.46%) at $10.99 prior to Wednesday's earnings announcement.
— Jeff Baumgartner, Site Editor, Light Reading Cable
The cable gear vendor posted net income of $16.7 million, or 13 cents per share, on revenues of $265.8 million. That's down from a year-ago profit of $19.7 million, or 15 cents per share, and revenues of $280.6 million. Arris's non-GAAP net income of 24 cents per share beat the analyst consensus of 18 cents reported by Thomson Reuters , while revenues were short of the expected $271.5 million.
Looking ahead to its third quarter, Arris is projecting revenues of $270 million to $290 million and non-GAAP net income of 19 to 23 cents per share. Analysts had been looking for $282.55 million and 21 cents per share.
The earnings news comes as Arris is trying to establish its line of denser cable modem termination system (CMTS) line cards and is looking for more takers for a hybrid QAM/IP gateway that came from its acquisition of Paul Allen's Digeo Inc. (See Arris CMTS Packs On Upstream Muscle and Shaw Deploys Arris Video Gateway.)
Arris shares closed down 40 cents (3.46%) at $10.99 prior to Wednesday's earnings announcement.
— Jeff Baumgartner, Site Editor, Light Reading Cable
EDUCATIONAL RESOURCES

FEATURED VIDEO
UPCOMING LIVE EVENTS
February 7-9, 2023, Virtual Event
February 15, 2023, Virtual Event
March 15-16, 2023, Embassy Suites, Denver, CO
March 21, 2023, Virtual Event
May 15-17, 2023, Austin, TX
December 6-7, 2023, New York City
UPCOMING WEBINARS
February 2, 2023
DIY Data Center Automation Deep Dive: Challenges and Opportunities for CSPs, Enterprises, and Cloud Providers
February 7, 2023
Optical Networking Digital Symposium - Day 1
February 9, 2023
Optical Networking Digital Symposium - Day 2
February 14, 2023
Achieve Your Growth Potential with Next-Gen Content Delivery
February 15, 2023
Digital Divide Digital Symposium
February 16, 2023
SCTE® LiveLearning for Professionals Webinar™ Series: Getting the Edge on Edge Computing
Webinar Archive
PARTNER PERSPECTIVES - content from our sponsors
How 5G Thrives ASEAN Digital Economy
By Huawei
Capitalizing On 5G Innovation To Deliver Breakthroughs At The Edge
By Kerry Doyle, sponsored by ZTE
All Partner Perspectives
GUEST PERSPECTIVES - curated contributions
Telco vs. Cable: Who comes out on top?
By Cheenu Seshadri, Managing Partner, Three Horizon Advisors
Don't worry about the government?
By Patrick Donegan, Principal Analyst, HardenStance
All Guest Perspectives