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Harmonic dented despite Comcast mega-deal, blaming SaaS transition

Harmonic closed out its 8th consecutive profitable quarter in style on the back of a huge new software license agreement with Comcast, yet even a lucrative deal with the cable TV giant couldn’t prevent revenues tumbling. Where will the US compression specialist look to salvage diminishing cable revenues, or will it focus efforts on the larger video slice of the business as IBC fast approaches? It was a tough second quarter in the cable field for Harmonic as revenue in the segment slipped 34.5% to $13.3 million, while the video division also experienced a blip with revenue dropping 9.6% to $71.6 million. All in all, total net revenue declined 14.6% to $84.9 million as Harmonic goes about executing its OTT…

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