Harmonic Expects to Lose $6M From Ceasing Its Russia Video Business
Harmonic anticipates losing about $6 million in 2022 revenue by ceasing its video business in Russia due to the war in Ukraine, said CEO Patrick Harshman on a Q1 earnings call Monday. “We expect this Russia gap to be largely…
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filled” by video appliance and streaming “upside” in other parts of the world, where Harmonic is having “stronger than originally forecast demand,” he said. The streaming upside in quarters to come “is due in part to a major new sports-driven win during the first quarter with a Tier 1 streaming media company, as well as continued expansion of livestream and sports delivery for customers that have already launched,” he said.