04:38 PM EDT, 05/14/2024 (MT Newswires) -- Infinera ( INFN ) reported a Q1 preliminary non-GAAP loss late Tuesday of $0.17 per diluted share, compared with earnings of $0.02 per share a year earlier.

Analysts polled by Capital IQ expected a loss of $0.13.

Preliminary revenue for the quarter ended March 30 was $306.9 million, down from $392.1 million a year earlier.

Analysts surveyed by Capital IQ expected $336.1 million.

The company said that for Q2 it expects a non-GAAP net loss per share of $0.09 plus or minus $0.04 and revenue of $330 million plus or minus $20 million.

Analysts polled by Capital IQ expect break-even EPS and revenue of $373.2 million.

The company's shares were falling past 14% in recent after-hours activity.

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