President Trump's tariffs put pressure on Harmonic's broadband biz

President Trump's ever-evolving tariff policies have cast a cloud on Harmonic's broadband business, which includes new nodes that power the cable industry's distributed access architecture network upgrades. While President Trump's tariff policies will have little to no impact on Harmonic's video business, the company does anticipate "more significant impacts" on its broadband business, Harmonic CFO Walter Jankovic said on the company's Q1 2024 earnings call. Notably, one of Harmonic's primary third-party manufacturing sites is in Malaysia. "This is where we have the vast majority of our broadband node products manufactured," Jankovic said. Additionally, a large majority of Harmonic's sales are to US-based customers. In Q1 2025, Comcast represented 34 percent of Harmonic revenues and Charter Communications represented 12 percent.