Ciena Corp reports results for the quarter ended in October - Earnings Summary

Ciena

07/12/2023 14:31

* Ciena Corp  CIEN.N  reported quarterly adjusted earnings
of 75
cents​​ per share for the quarter ended in October, higher than
the same quarter last year, when the company reported EPS of 61
cents.  The mean expectation of fourteen analysts for the
quarter was for earnings of 69 cents per share. Wall Street
expected results to range from 64 cents to 77 cents per share.
    * Revenue rose 16.3% to $1.13 billion from a year ago;
analysts
expected $1.09 billion. 
    * Ciena Corp's reported EPS for the quarter was 62 cents​.
    * The company reported quarterly net income of $91.2
million.
    * Ciena Corp shares had fallen by 3.2% this quarter and
lost 10.2%
so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 0.1%
in the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 11 "strong buy" or "buy," 5
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the
communications &
networking peer group is also "buy"

Wall Street's median 12-month price target for Ciena Corp is
$60.00 
This summary was machine generated from LSEG data December 7 at
02:31 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Oct. 31 2023      0.69           0.75           Beat
 Jul. 31 2023      0.51           0.59           Beat
 Apr. 30 2023      0.61           0.74           Beat
 Jan. 31 2023      0.36           0.64           Beat