Ciena's Q3 Earnings & Revenues Surpass Estimates, Stock Falls

Ciena Corporation (CIEN) reported third-quarter fiscal 2024 (ended July 27) adjusted earnings per share (EPS) of 35 cents, which beat the Zacks Consensus Estimate of 26 cents. Earnings plunged 40.7% year over year. Total revenues were down 11.8% year over year to $942.3 million in the reported quarter. However, the top line surpassed the Zacks Consensus Estimate by 1.4%. A slower-than-expected recovery of order volumes from international service providers drove the year-overyear decrease. This includes caut ...