Infinera (INFN) Misses Q1 EPS by 3c

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Infinera Corporation Reports First Quarter 2022 Financial Results

May 3, 2022 4:03 PM EDT

SAN JOSE, Calif., May 03, 2022 (GLOBE NEWSWIRE) -- Infinera Corporation (NASDAQ: INFN) today released financial results for its first quarter ended March 26, 2022.

GAAP revenue for the quarter was $338.9 million compared to $400.3 million in the fourth quarter of 2021 and $330.9 million in the first quarter of 2021.

GAAP gross margin for the quarter was 32.9% compared to 35.6% in the fourth quarter of 2021 and 35.4% in the first quarter of 2021. GAAP operating margin for the quarter was (10.8)% compared to (2.5)% in the fourth quarter of 2021 and (7.0)% in the first quarter of 2021.

GAAP net loss for the quarter was $(41.9)... More