Ciena falls after Q4 profit miss

Ciena

12/12/2024 12:54

** Shares of networking equipment maker Ciena  CIEN.N  fall
5.8% to $69 premarket
    ** Company reports Q4 adjusted EPS of 54 cents vs analysts'
estimate of 66 cents, data compiled by LSEG shows
    ** Gross profit falls 5.4% over the year earlier
    ** Q4 revenue down 0.5% at $1.12 bln, compared with
estimates of $1.10 bln
    ** Quarterly revenue from its biggest segment, networking
platforms, down 2% due to a decline in routing and switching
revenue
    ** Revenue down in regions excluding Americas
    ** Up to Wednesday's close, stock up 62.7% YTD

 (Reporting by Neil J Kanatt in Bengaluru)
 ((Neil.JKanatt@thomsonreuters.com))