Peraso misses earnings estimates by $0.02, revenue below forecast
Optical networking firm Peraso reported adjusted earnings per share of $0.04, below the $0.06 estimate, while revenue of $21.3 million missed the $22.5 million forecast.
Peraso Inc. reported adjusted earnings per share of $0.04 for the quarter ended March 31, missing the consensus estimate of $0.06 by $0.02, according to data compiled by Refinitiv. Revenue totaled $21.3 million, falling short of the $22.5 million forecast.
The optical networking company cited softer demand in enterprise and data center markets as key factors behind the shortfall. Gross margin expanded to 52.1% from 50.3% in the prior-year period, though operating expenses rose 8% year-over-year to $11.2 million.
Peraso maintained its full-year guidance, reaffirming revenue guidance of $85 million to $95 million and adjusted earnings per share of $0.20 to $0.30. The company’s shares were down 3% in after-hours trading following the report.
Chief Executive Officer John Metzger stated that while near-term demand remains challenging, long-term growth prospects in optical interconnect solutions remain intact.
Priya covers listed equities and corporate earnings, reading quarterly results and guidance for what they signal about sector health and forward valuations.
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