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Earnings Call Summary | Infinera(INFN.US) Q1 2024 Earnings Conference

Futu News ·  May 17 08:06  · Conference Call

The following is a summary of the Infinera Corporation (INFN) Q1 2024 Earnings Call Transcript:

Financial Performance:

  • Infinera reported Q1 2024 revenue of $307 million, a decrease of 22% year-over-year.

  • Gross margin was 36.6%, a decrease of 220 basis points year-over-year.

  • The company generated $24 million in cash flow from operations and $16 million in free cash flow.

  • The diluted EPS was a loss of $0.17, a downturn from earnings of $0.02 in the same quarter last year.

  • The company finished the quarter with $192 million in cash and cash equivalents.

  • The full-year revenue is projected to see a 1%-5% decrease compared to 2023.

Business Progress:

  • Infinera saw strong bookings and strategic deal progress, winning new clients potentially worth over $1 billion across several key accounts.

  • It also secured key wins with hyperscalers, international wholesale providers, and service providers.

  • The company anticipates a growth rate of 8% to 12% in 2025 and aims to achieve an earnings per share in the range of $0.40 to $0.50.

  • After a slower than anticipated start to the year, the company expects improvements in Q2 and a further step-up in the second half of the year.

  • The company forecasts future growth on its refreshed portfolio, customer momentum, design wins, and signed contracts.

  • It also anticipates to benefit from new product introductions.

More details: Infinera IR

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.

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