Infinera Corporation Common Stock

INFN

Market cap $1.57B

Nokia completes acquisition of Infinera to create innovation powerhouse in optical networks, with the scale to power the data center revolution

Infinera (INFN) came out with quarterly earnings of $0.03 per share, missing the Zacks Consensus Estimate of $0.09 per share. This compares to earnings of $0.12 per share a year ago.

FY'24 Highlights: Year-over-year growth in bookings and backlog; book-to-bill ratio of approximately 1.1x for FY'24 and 1.3x for Q4'24 Record revenue with webscalers - total revenue exposure (direct and indirect) greater than 50% of FY'24 revenue Significant design wins across the GX systems portfolio with webscalers and Tier 1 Communications Service Providers (CSPs) Substantial awards for ICE-X 400G and 800G pluggables from webscalers and Tier 1 CSPs Launched ICE-D to address the projected multi-billion dollar intra-data center opportunity driven by AI workloads Secured CHIPS & Science Act funding with the potential for greater than $200 million in total federal incentives, in addition to potential state and local incentives Announced a definitive agreement to be acquired by Nokia (acquisition anticipated to be completed on or about February 28, 2025) SAN JOSE, Calif., Feb. 27, 2025 (GLOBE NEWSWIRE) -- Infinera Corporation (NASDAQ: INFN) has released financial results for its fourth quarter and fiscal year ended December 28, 2024.

The EU Commission on Wednesday said it had unconditionally approved the $2.3 billion acquisition of U.S. optical semiconductors and networking equipment maker Infinera by Nokia.

EU antitrust regulators are set to clear without conditions Nokia's $2.3 billion acquisition of U.S. optical semiconductors and networking equipment maker Infinera , people with direct knowledge of the matter said on Friday.

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SAN JOSE, Calif., Jan. 21, 2025 (GLOBE NEWSWIRE) -- Infinera (NASDAQ: INFN) announced today that C3ntro Telecom (C3ntro), Mexico's leading provider in AI-enabled fiber networks and data center connectivity solutions in Mexico and the U.S., successfully deployed Infinera's GX Series-based ICE6 800G solution and GX Open Line System (GX OLS) to upgrade and connect its long-haul network between Mexico City and Queretaro and interconnect all data centers across both cities with a groundbreaking capacity of 1.6 Tb/s (2x800G) optical redundant transmission. The upgraded network will offer new and enhanced data center services in key markets in Mexico to meet the increasing demands of its customers.

Nokia CorporationStock Exchange Release22 November 2024 at 12:15 EET Nokia launches share buyback program to offset the dilutive effect of the Infinera acquisition Espoo, Finland – In line with the announcement made on 27 June 2024, Nokia Corporation ("Nokia" or the "Company") has today decided to launch a share buyback program to offset the dilutive effect of issuing new shares to the shareholders of Infinera Corporation and from Infinera's existing share-based incentives. The daily buyback volume is expected to increase following the completion of the Infinera acquisition, and the program will be terminated if the acquisition is cancelled.

Nokia CorporationStock Exchange Release22 November 2024 at 11:45 EET Nokia Board of Directors resolved on issuing shares without consideration to the company and a subsequent directed issuance related to the planned completion of the Infinera Corporation acquisition

Infinera (INFN) reported break-even quarterly earnings per share versus the Zacks Consensus Estimate of $0.06. This compares to earnings of $0.09 per share a year ago.