Infinera 1st-qtr loss narrows as product revenue rises; results beat analyst views

Infinera 1Q loss narrows as revenue climbs

SUNNYVALE, Calif. — Infinera Corp. said Tuesday that its first-quarter loss narrowed as revenue from its networking equipment products climbed.

For the quarter ended March 27, Infinera reported a loss of $20 million, or 21 cents per share, compared with a loss of $24.3 million, or 26 cents per share, in the year-ago quarter.

Excluding one-time items, the company’s loss totaled 7 cents per share in the latest quarter, which is better than the loss of 10 cents per share expected by analysts polled by Thomson Reuters.

Revenue rose 44 percent to $95.8 million, beating analysts’ forecast of $93.6 million.

Shares of Infinera rose 29 cents, or 3 percent, to close at $10.