Viavi Solutions (NASDAQ:VIAV) reported on Wednesday third quarter earnings that beat analysts' forecasts and revenue that fell short of expectations.
Viavi Solutions announced earnings per share of $0.14 on revenue of $256.2M. Analysts polled by anticipated EPS of $0.13 on revenue of $276.06M. That with comparison to EPS of $0.13 on revenue of $265.2M in the same period a year before. Viavi Solutions had reported EPS of $0.23 on revenue of $313.7M in the previous quarter. Analysts are expecting EPS of $0.16 and revenue of $286.43M in the upcoming quarter.
Viavi Solutions shares are down 20% from the beginning of the year , still down 27.22% from its 52 week high of $16.35 set on November 4, 2019. They are under-performing the Nasdaq which is down 2.05% year to date.
Viavi Solutions follows other major Technology sector earnings this month
Viavi Solutions's report follows an earnings beat by Microsoft on April 29, who reported EPS of $1.4 on revenue of $35.02B, compared to forecasts EPS of $1.27 on revenue of $33.76B.
Apple had beat expectations on April 30 with second quarter EPS of $2.55 on revenue of $58.31B, compared to forecast for EPS of $2.24 on revenue of $54.78B.
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