Calix shares tumble on downbeat Q1 revenue outlook
30/01/2024 10:44
** Shares of cloud services provider Calix CALX.N down
22.3% at $34.50 in premarket trading
** Co sees Q1 revenue to be between $225 mln and $231 mln,
lower than expectations of $262.80 mln - LSEG
** Reports Q4 revenue of $264.70 mln vs analysts' average
estimate of $264.40 mln
** CALX reports Q4 EPS of 43 cents per share compared to
expectations of 36 cents per share - LSEG
** We expect our customers to replan their network builds
based on potentially receiving government funds under programs
such as US Broadband Equity, Access and Deployment Program.
Therefore, during 2024, we expect our appliance shipments to
slow until funds are awarded - Co
** CALX stock had fallen 36.2% in 2023
(Reporting by Harshita Mary Varghese in Bengaluru)
((HarshitaMary.Varghese@thomsonreuters.com))