Casa Systems: 2Q Earnings Snapshot
Posted Jul 30, 2020 06:29:13 PM.
Last Updated Jul 30, 2020 06:32:08 PM.
This article is more than 5 years old.
ANDOVER, Mass. (AP) _ Casa Systems Inc. (CASA) on Thursday reported a second-quarter loss of $3 million, after reporting a profit in the same period a year earlier.
The Andover, Massachusetts-based company said it had a loss of 4 cents per share. Earnings, adjusted for one-time gains and costs, came to 1 cent per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 4 cents per share.
The provider of digital cable video and broadband services posted revenue of $83.4 million in the period, which also topped Street forecasts. Four analysts surveyed by Zacks expected $79.5 million.
Casa Systems expects full-year results to range from a loss of 16 cents per share to earnings of 12 cents per share, with revenue in the range of $340 million to $360 million.
Casa Systems shares have increased 37% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $5.62, a fall of 11% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CASA at https://www.zacks.com/ap/CASA
The Associated Press
