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Update: Calix Shares Drop as Lagging Fiscal Q3 Adjusted Earnings Forecast Undermines Q2 Beat

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(Updates with the stock move in the headline and the first paragraph.)

Calix (CALX) shares were down over 15% in Tuesday's premarket activity after the company reported overnight fiscal Q3 adjusted earnings forecast below market expectations, taking the shine off its Q2 beat.

The company reported fiscal Q2 adjusted earnings late Monday of $0.47 per diluted share, up from $0.33 a year earlier.

Analysts polled by FactSet expected $0.40.

Revenue in the three months ended June 27 rose to $293.3 million from $241.9 million a year earlier.

Analysts expected $290 million.

The company expects Q3 adjusted EPS of $0.37 to $0.45 on revenue of $301 million to $307 million.

Analysts expect EPS of $0.46 on revenue of $301.7 million.

Price: $32.51, Change: $-5.83, Percent Change: -15.21%

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