Infinera Message Board - Msg: 33940873

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Technology Stocks : Infinera

INFN 6.640

0.0%

Feb 28 4:00 PM EST

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From: FJB	7/29/2022 5:26:59 AM
	of 4443

On a year over year basis, product revenue grew 11%, while services revenue declined 11% due to supply related delays in customer deployments, resulting in total company revenue growth of 5.5%. The good news is this is only an issue of timing with the service revenue and revenue associated with these delays should be recognized in the coming quarters. Global demand for our products remain strong in Q2 with bookings up in the double digit percentage range year over year and a book to bill above one. Bookings growth was especially strong with the ICPs where we grow both with existing customers and expanded with new ones. We set another record backlog growing approximately 80% year over year with product backlog growth over 100% again. Our remaining performance obligations, which are a measure of both our non-cancelable backlog and our deferred revenue, grew by $133 million sequentially in quarter.

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