Key PointsCiena is a leading networking solutions provider serving telecom service providers and growing its engagements with cloud providers as they generate over 54% of revenues now.Ciena reported a strong fiscal Q1 2024 EPS beat by 18 cents but provided soft fiscal Q2 and full-year 2024 guidance.Ciena's service provider customers are struggling to work through existing inventories as normalization continues, but its over 50% market share in data center interconnect continues to drive growth.5 stocks we l ...

Ciena (CIEN) recently announced that its GeoMesh Extreme submarine network solution is being utilized by SEA-ME-WE 4 (South East Asia – Middle East – Western Europe 4) to accommodate the increasing demand for seamless connectivity across the circuit.SEA-ME-WE 4 is an international submarine communications cable system that spreads across vast geographic area, connecting countries including Singapore, Malaysia, Thailand, Bangladesh, India, Pakistan, Saudi Arabia, Egypt, Italy, France and the United Kingdom. ...

HANOVER, Md.--(BUSINESS WIRE)--To support growing demand for more bandwidth across the Asia-to-Europe route, SEA-ME-WE 4 (South East Asia – Middle East – Western Europe 4) recently completed an upgrade to its submarine cable system. Powered by Ciena's (NYSE: CIEN) GeoMesh Extreme submarine network solution, the upgrade enables a capacity increase from 65Tb/s to 122Tb/s on the SEA-ME-WE 4 cable system. “Ciena’s cutting-edge technology is helping us in optimizing the resources of the SEA-ME-WE 4 cable, there ...

Ciena Corporation (CIEN) reported first-quarter fiscal 2024 (ended Jan 27) results, wherein its adjusted earnings per share (EPS) of 66 cents beat the Zacks Consensus Estimate of 47 cents. Earnings improved 3.1% year over year.Quarterly total revenues were down 1.8% year over year to $1,037.7 million. The downtick was driven by the macroeconomic concerns that are causing lower-than-expected order volumes from service providers in several overseas geographies. However, the top line surpassed the Zacks Consen ...

Shares of optical networking equipment maker Ciena Communications (CIEN -13.62%) were down by 13.5% as of 11:15 a.m. ET Thursday, despite the company delivering expectations-beating results on both sales and earnings in the quarterly report it released before the opening bell.Heading into earnings day, analysts had forecast Ciena would earn $0.48 per share (adjusted for one-time items) on sales of $1.02 billion in its fiscal 2024 first quarter. The actual numbers: $0.66 per share on sales of $1.04 billion.  ...

Ciena Corporation (NYSE:CIEN) Q1 2024 Earnings Conference Call March 7, 2024 8:30 AM ET Company Participants Gregg Lampf - VP, IR Gary B. Smith - President and CEO James E. Moylan, Jr. - SVP and CFO Scott McFeely - Executive Advisor Conference Call Participants Samik Chatterjee - J.P. Morgan Amit Daryanani - Evercore ISI Tal Liani - Bank of America Unidentified Analyst - Raymond James Meta Marshall - Morgan Stanley George Notter - Jefferies Michael Genovese - Rosenblatt Securities Alexander Henderson - Need ...

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Ciena (CIEN) came out with quarterly earnings of $0.66 per share, beating the Zacks Consensus Estimate of $0.47 per share. This compares to earnings of $0.64 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 40.43%. A quarter ago, it was expected that this developer of high-speed networking technology would post earnings of $0.68 per share when it actually produced earnings of $0.75, delivering a surprise of 10.29%.Over the last ...

Ciena Corporation March 7, 2024 Forward-looking statements and non-GAAP measures Ciena's actual results, performance or events may differ materially from these forward-looking statements made or implied due to a number of risks and uncertainties relating to Ciena's business, including: the effect of broader economic and market conditions on our customers, their spending and their businesses and markets; our ability to execute our business and growth strategies; the impact of macroeconomic conditions and glo ...

Have you been searching for a stock that might be well-positioned to maintain its earnings-beat streak in its upcoming report? It is worth considering Ciena (CIEN) , which belongs to the Zacks Fiber Optics industry.When looking at the last two reports, this developer of high-speed networking technology has recorded a strong streak of surpassing earnings estimates. The company has topped estimates by 10.81%, on average, in the last two quarters.For the last reported quarter, Ciena came out with earnings of $ ...