Applied Optoelectronics reports Q2 EPS (28c), consensus (29c)

Reports Q2 revenue $43.27M, consensus $44.14M. “Our revenue for the second quarter was in line with our expectations. While our non-GAAP gross margin came in below our expectations, primarily due to product mix, our non-GAAP loss per share was favorable compared to our expectations,” said Dr. Thompson Lin, Applied Optoelectronics Inc. Founder, President and Chief Executive Officer. “We continue to feel optimistic about the second half of the year despite a slower start to 2024. Notably, we are pleased to announce that we’ve begun to receive orders for 400G products from another large hyperscale customer, and we are very excited about this new customer interaction. Further, we began to see business improvement in our datacenter business during Q2 and expect continued improvement throughout the year. Lastly, while we saw generally slower CATV sales during the second quarter as our customers prepare to transition to DOCSIS 4.0, we believe that this transition is underway and expect our CATV results to begin to ramp in Q3.”