Ciena (CIEN) Tops Q3 EPS by 24c, Revenues Beat

Ciena (NYSE: CIEN) reported Q3 EPS of $1.06, $0.24 better than the analyst estimate of $0.82. Revenue for the quarter came in at $976.7 million versus the consensus estimate of $971.77 million.

• Q3 Revenue: $976.7 million, increasing 1.7% year over year
• Q3 Net Income per Share: $0.91 GAAP; $1.06 adjusted (non-GAAP), increasing 49% year over year

"We delivered outstanding financial results in the third quarter, reflecting our continued innovation, market leadership and strong competitive position in an uncertain macro environment,“ said Gary Smith, President and CEO, Ciena. “Although COVID-related market dynamics have resulted in an orders slowdown and are likely to adversely impact our revenue for a few quarters, we are confident in our ability to continue executing on our strategy and expanding our market leadership."

For earnings history and earnings-related data on Ciena (CIEN) click here.

You May Also Be Interested In

• Qtrex Quantum executives plan to buy up to 2M shares over 12 months
• Evercore ISI Starts Credo Tech (CRDO) at Outperform
• Seacoast Banking (SBCF) PT Raised to $34 at Piper Sandler