Ciena Corp on Tuesday reported third-quarter adjusted earnings that exceeded analyst estimates, while revenue also surpassed expectations as demand for networking infrastructure remained resilient.
The Hanover, Maryland-based company posted adjusted earnings per share of $2.11, up 23% year-over-year and 39 cents above the $1.72 consensus among analysts polled by Refinitiv. Revenue totaled $1.67 billion, above the $1.63 billion estimate and marking a 10% increase from the same period a year earlier.
Ciena’s outlook for the fourth quarter calls for revenue between $1.70 billion and $1.80 billion, compared with the $1.70 billion consensus. The company has not provided adjusted EPS guidance for the quarter.
The stock, which closed at $354.16 on Tuesday, has declined 27.46% over the past three months but remains up 202.91% over the past 12 months. InvestingPro’s financial health score for Ciena is categorized as "good performance," with 16 positive EPS revisions recorded in the last 90 days and none negative.
Ciena designs and manufactures networking equipment used by telecom operators and cloud providers to support data transmission and internet connectivity.
