Calix Beats Q2, Guides Q3 EPS Below Views; Stock Drops

Calix beat Wall Street's second-quarter targets. The broadband equipment maker issued third-quarter guidance that fell short of profit estimates, sending shares lower after the report.

Calix (CALX) posted non-GAAP earnings of $0.47 per share for the June quarter, $0.07 above the consensus estimate, on revenue of $293.3 million, up 21% from a year earlier and about $3.4 million above the average analyst forecast.

For the third quarter, the company sees revenue of $301 million to $307 million, in line with the $301.6 million consensus. Non-GAAP earnings per share are expected to be $0.37 to $0.45, with the midpoint of $0.41 trailing the $0.46 analysts had projected. Gross margin is forecast between 50.5% and 53.5%, with operating expenses of $123.5 million to $125.5 million on a non-GAAP basis.