Cable and TV technology giant Arris posted revenues of US$1.73 billion for the second quarter, up 37% year-on-year. Revenues and income exceeded expectations, leading CEO Bob Stanzione to describe the quarter as the company’s best ever.
Net income for the quarter was US$84.2 million, up from US$16.8 million last year.
Stanzione said that he now expected full year revenue to be at the high end of guidance while net income per diluted share is trending above guidance.
Stanzione said he expected the US cable and telco outlook to be positive for the next few years, with telco and satellite players regaining momentum. He said cable consolidation looked to be “done at least for the time being”.
Stanzione said that currency changes had impacted the UK business but that international sales overall had rebounded in the second quarter, with Europe and Canada looking strong for Q3.
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