Ciena Q2 Earnings and Revenues Beat Estimates
Ciena (NYSE: CIEN) came out with quarterly earnings of $0.27 per share, beating the Zacks Consensus Estimate of $0.15 per share. This compares to earnings of $0.74 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of 80%. A quarter ago, it was expected that this developer of high-speed networking technology would post earnings of $0.47 per share when it actually produced earnings of $0.66, delivering a surprise of 40.43%.
Over the last four quarters, the company has surpassed consensus EPS estimates four times.
Ciena, which belongs to the Zacks Fiber Optics industry, posted revenues of $910.83 million for the quarter ended April 2024, surpassing the Zacks Consensus Estimate by 1.59%. This compares to year-ago revenues of $1.13 billion. The company has topped consensus revenue estimates four times over the last four quarters.
The sustainability of the stock’s immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management’s commentary on the earnings call.
Ciena shares have …
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