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On July 29, 2025, Harmonic's stock experienced a significant drop of 14.66% in pre-market trading, reflecting investor concerns and market reactions to recent developments.
Harmonic reported an 11% increase in Q2 profit, but the company withdrew its full-year 2025 guidance due to tariff and macroeconomic uncertainties. This move, coupled with the guidance for Q3 2025 GAAP revenue to be below prior quarter levels, has raised concerns among investors about the company's future performance.
In addition to the profit report, Harmonic's Q2 non-GAAP earnings rose while revenue declined. The company's shares fell following the release of its Q3 outlook, indicating a cautious approach to its current quarter's performance.
Harmonic has also been actively repurchasing its shares, completing the buyback of 5,081,393 shares, representing 4.38% of its total shares, for $50.09 million under the buyback plan announced in February 2025. This move is seen as a strategy to boost shareholder value and stabilize the stock price.

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