Harmonic (NASDAQ:HLIT) exceeded earnings and revenue expectations for Q2 2025, with non-GAAP EPS more than quadrupling analyst estimates. Backlog and deferred revenue fell to $504.5 million, down from $613.1 million in Q2 2024, despite bookings rebounding to $158.4 million. Harmonic withdrew full-year 2025 guidance due to tariff and macroeconomic uncertainty but guided Q3 2025 GAAP revenue below prior quarter levels. The company focuses on broadband internet, cable television, and video streaming technology with recent success in both the broadband and video segments. Segment results showed mixed performance, with broadband revenue falling and video revenue growing. Bookings surged over 100% compared to Q2 2024, but backlog and deferred revenue decreased year-over-year. Harmonic faces risks from customer concentration and geopolitical uncertainty. Looking ahead, the company expects subdued broadband revenue and lower earnings per share in Q3 2025, with caution due to ongoing trade issues and market volatility.

Read more at Nasdaq: Harmonic Posts Q2 Profit Up 11%