CommScope Holding Company, Inc. COMM reported strong second-quarter 2022 results, wherein the bottom line and the top line beat the respective Zacks Consensus Estimate. With solid order trends, the company expects this growth momentum to continue despite supply chain headwinds, backed by industry tailwinds such as 5G and mobile network densification, indoor coverage and expansion of optical fiber networks.Bottom LineOn a GAAP basis, the net loss in the June quarter was $61 million or a loss of 36 cents per share compared with a net loss of $153.8 million or a loss of 82 cents per share in the year-ago quarter. The year-over-year improvement was primarily attributable to top-line growth and lower operating expenses.Adjusted net income came in at $100.5 million or 41 cents per share compared with $105.7 million or 43 cents per share in the prior-year quarter. The bottom line beat the Zacks Consensus Estimate by 8 cents.CommScope Holding Company, Inc. Price, Consensus and EPS Surprise CommScope Holding Company, Inc. price-consensus-eps-surprise-chart | CommScope Holding Company, Inc. QuoteTop LineQuarterly net sales improved 5.3% year over year to $2,300.2 million, largely due to higher sales in the Outdoor Wireless Networks and Connectivity and Cable Solutions segments. The top line beat the consensus estimate of $2,261 million. Region-wise, revenues increased in Canada (up 41.1% to $124 million) and the United States (13.6%, $1,424.3 million), partially offset by a decline in Europe, Middle East and Africa (EMEA) region (down 7.4% to $378.4 million), the Asia Pacific (8.6%, $223.1 million) and the Caribbean and Latin America (21%, $150.4 million).Quarterly Segment ResultsSales in Connectivity and Cable Solutions were up 26% to $986.7 million, driven by fiber products and strength in end-market demand. Sales in Outdoor Wireless came in at $390.9 million, up 8.6% year over year, owing to a faster 5G rollout and growth in integrated solutions.Sales in Networking, Intelligent Cellular and Security Solutions decreased to $205.4 million from $223.7 million due to chip shortfall. Sales in Access Network Solutions totaled $293.3 million, down 18.9% year over year due to a decline in video and broadband gateways. Sales from the Home Networks business declined to $423.9 million from $456.5 million in the prior year due to supply chain adversities and a fall in video. In April 2021, CommScope announced that it intends to separate its Home Networks business to create an independent publicly traded entity. The tax-free spin-off is part of CommScope NEXT, a long-term growth strategy that focuses on eliminating redundant processes and non-value-added complexity and costs to bolster business optimization. Due to the ongoing supply chain adversities, the company has currently decided to suspend the separation plan and take an appropriate call later, depending on the market conditions.Other Quarter DetailsGross profit improved to $683.2 million from $673.3 million in the year-ago quarter due to higher revenues. Total operating expenses in the quarter decreased to $620.1 million from $691.7 million. Operating income was $63.1 million against an operating loss of $18.4 million in the year-ago quarter. Adjusted EBITDA was $299.6 million compared with $307.7 million a year ago.Cash Flow & LiquidityIn the first six months of 2022, CommScope utilized $109.1 million cash in operating activities compared with an operating cash flow of $67.6 million in the prior-year period. As of Jun 30, 2022, the company had $229.3 million in cash and cash equivalents with $9,524.1 million of long-term debt. The company had $50 million in outstanding debt under its asset-based revolving credit facility and had a borrowing capacity of $671.1 million.Zacks Rank & Stocks to ConsiderCommScope currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.TESSCO Technologies Incorporated TESS, sporting a Zacks Rank #1, delivered an earnings surprise of 61.9%, on average, in the trailing four quarters. Earnings estimates for TESSCO for the current year have moved up 49.4% since August 2021.TESSCO offers products to the industry’s top manufacturers in mobile communications, Wi-Fi, wireless backhaul and related products. With more than three decades of experience, it delivers complete end-to-end solutions to the wireless industry.Ooma Inc. OOMA, carrying a Zacks Rank #2 (Buy), delivered an earnings surprise of 34.7%, on average, in the trailing four quarters. Earnings estimates for Ooma for the current year have moved up 5.4% since March 2022.Ooma offers communications services and related technologies for businesses and consumers in the United States and Canada. It helps to create powerful connected experiences for businesses and consumers through its smart cloud-based SaaS platform.Harmonic Inc. HLIT, sporting a Zacks Rank #1, delivered an earnings surprise of 79.8%, on average, in the trailing four quarters. Earnings estimates for Harmonic for the current year have moved up 17.1% since February 2022.Harmonic provides video delivery software, products, system solutions, and services worldwide. With more than three decades of experience, it has revolutionized cable access networking via the industry's first virtualized cable access solution, enabling cable operators to more flexibly deploy gigabit internet service to consumers' homes and mobile devices. 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