Infinera announced that preliminary Q3 revenue is expected to be $378 million to $392 million, ahead of the midpoint of the company’s prior outlook of $361 million to $391 million. Preliminary non-GAAP net income (loss) per diluted share is expected to be $0.03 to $0.08, ahead of the company’s prior outlook of ($0.06) to $0.02.
Infinera CEO David Heard said, “The third quarter was another solid quarter for us, with all key preliminary financial metrics – revenue, gross margin, operating margin, and EPS, expected to be ahead of the midpoint of our outlook range. Bookings were strong in the quarter with a book-to-bill ratio above 1, based on our preliminary revenue range. Furthermore, through the first three quarters of 2023, we expect to report that we have grown revenue, expanded gross margin, and increased operating margin, compared to the same period last year.”
“Traction across our portfolio remained strong in the quarter. We secured new design wins with major telecom service providers and hyperscale customers for our Systems group and received additional orders for our Subsystems group. We remain confident in our strategy, laser focused on execution and committed to driving meaningful earnings per share expansion in the future,” continued Mr. Heard.