Calix drops on downbeat forecast, weak Q1 results

Calix

23/04/2024 12:56

** Shares of cloud services provider Calix  CALX.N  fall
15.4% to $25 premarket
    ** Co expects Q2 revenue between $197 mln - $203 mln, below
analysts' average estimate of $228.1 mln - LSEG data 
    ** Calix sees Q2 adj. EPS in the range of $0.03 - $0.09,
compared to market view of $0.22
    ** Co posts Q1 revenue of $226.3 mln, below Wall Street view
of $233.7 mln 
    ** Quarterly adj. EPS of $0.21 slightly below estimates of
$0.22 
    ** Six of seven brokerages rate the stock "buy" or higher,
one "hold"; their median PT is $49
    ** Up to Monday's close, stock had fallen 32.3% YTD

 (Reporting by Khushi Singh in Bengaluru)
 ((Khushi.Singh@thomsonreuters.com;))