Infinera Slips To Loss In Q4

(RTTNews) - Infinera Corp. (INFN) reported that its net loss for the fourth quarter was $26.34 million or $0.11 per share, compared to net income of $12.87 million, or $0.06 per share, in the fourth quarter of 2023.

Total other expense was $17.70 million compared to expense of $3.09 million in the prior year. Non-GAAP net income for the quarter was $8.2 million, or $0.03 per share, compared to $28.6 million, or $0.12 per share, in the fourth quarter of 2023. Analysts expected the company to report earnings of $0.11 per share for the fourth quarter. Analysts' estimates typically exclude special items.

GAAP revenue for the quarter declined to $414.39 million from $453.46 million in the fourth quarter of 2023. Analysts expected revenue of $409.07 million for the quarter.

In June 2024, Nokia (NOK) agreed to acquire Infinera in a transaction valuing the company at $6.65 per share or an enterprise value of US$2.3 billion.

On 18th February 2025, Infinera announced that its acquisition by Nokia is expected to close around February 28, 2025, pending final regulatory approvals and customary closing conditions.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.