Infinera reported Q2 GAAP revenue of $331.6 million compared to $330.3 million in the first quarter of 2020 and $296.3 million in the second quarter of 2019.
GAAP gross margin for the quarter was 29.4% compared to 23.3% in the first quarter of 2020 and 20.7% in the second quarter of 2019. GAAP net loss for the quarter was $(61.6) million, or $(0.33) per share, compared to $(99.3) million, or $(0.55) per share, in the first quarter of 2020, and $(113.7) million, or $(0.64) per share, in the second quarter of 2019. Non-GAAP net loss for the quarter was $(17.2) million, or $(0.09) per share, compared to a net loss of $(49.4) million, or $(0.27) per share, in the first quarter of 2020, and net loss of $(42.0) million, or $(0.24) per share, in the second quarter of 2019.
on track for delivery this year.
“I am pleased with our execution in the quarter from a financial, operational and technical perspective, making advances on all fronts. We are managing the operational impacts of COVID-19 and are continuing to take the necessary measures to reduce costs and improve working capital utilization as macroeconomic uncertainty in our industry continues,” said Tom Fallon, Infinera CEO. “Importantly, I am encouraged by the opportunity we believe will be created by our ICE6 solution as the industry readies for a new technology cycle driven by ever increasing demand for bandwidth.”