CommScope Holding Co., Inc. (COMM) is creating the most advanced global wired and wireless networks by pushing the boundaries of technology. The company empowers its clients to predict what’s next and invent what’s possible.
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COMM stock price during the regular trading session of April 1, 2022, was $7.69 with a decline of 2.41%. Its price plummeted further as of the writing in the aftermarket session by 5.07%.
COMM: Events and Happenings
On March 31, 2022, COMM reported the introduction of Propel, a high-speed fiber portfolio aimed to support data center managers respond to the exponential incline in demand for computing power. This technology enables the transition to Terabit speeds, by providing consistent connectivity and a vigorous network infrastructure allowing quicker, more efficient data access.
On March 29, 2022, COMM announced its cloud-based ECO Service Management Platform’s provision to TELUS to manage its next-gen connected home CPE. On March 23, 2022, COMM updated on the expansion of its collaboration with Trackhouse Racing with the introduction of the CommScope Ignition Program. The platform leverages the enthusiasm of motorsports racing to progress STEM learning across the US while offering solutions for the improved accessibility to trustworthy networks.
On February 21, 2022, COMM stated its Executive management’s participation at the Morgan Stanley Technology, Media & Telecom Conference held on March 7-8, 2022.
COMM: Key Financials
COMM issued its consolidated financial statement on February 17, 2022, for the fourth quarter of 2021 ended on December 31, 2021. Some important updates are cited below.
The company posted net sales of $2.22 billion during Q4 2021 as compared to $2.13 billion during the corresponding fiscal quarter of 2020. Its revenue observed a 4.3% increase YoY. It surpassed the revenue estimations by $183 million.
Net loss basic and diluted for Q4 2021 was $87.1 million or $0.50 per share corresponding to the net earnings of $23.9 million or $0.05 per share in the corresponding Q4 2020. The company’s EPS declined considerably YoY surpassing the revenue estimations by $0.01.
COMM stock price fell by more than 50% in the last year. Its stock price is continuously on a declining verge after hours as Goldman Sachs rated the company from buy to neutral as its price target lowered from $18 to $9. For the upcoming quarter, the company’s revenue outlook is $2.07 billion against -$0.50 EPS.