Infinera reports smaller 2nd-quarter net loss thanks to sharp revenue increase

Infinera posts smaller 2Q loss as revenue grows

SUNNYVALE, Calif. — Infinera Corp. posted a smaller net loss for its second quarter Thursday as revenue from its networking equipment products increased sharply.

For the three months ended June 26, the company posted a net loss of $9.6 million, or 10 cents per share, compared with a loss of $27.1 million, or 28 cents per share, in the same period a year earlier.

Revenue rose 62 percent to $111.4 million from $68.9 million.

Excluding stock compensation expenses, Infinera earned 3 cents per share in the latest quarter.

Analysts, on average, expected a loss of 5 cents per share on revenue of $99.5 million, according to a poll by Thomson Reuters. Analyst estimates exclude stock options costs.

Shares rose 63 cents, or 9.9 percent, to close at $6.99. The stock has ranged from $5.70 to $10.10 over the past year.