CIEN Stock Recent News

Ciena's (CIEN) Waveserver 5 is being utilized by EdgeUno to upgrade its data center interconnect.

Telecom gear maker Ciena Corp. NYSE: CIEN gapped up after reporting third-quarter earnings on August 31. Shares reversed lower in the following session, but not nearly enough to fill the gap; Ciena stock closed 16.82% higher for the week.

Ciena Corporation delivered a strong beat on revenue and earnings for its latest quarter. Management cited "strength across all regions" and subsequently raised their full-year outlook for revenue growth.

Ciena Corporation (NYSE:CIEN ) Q3 2023 Results Conference Call August 31, 2023 8:30 AM ET Company Participants Gregg Lampf - VP, IR Gary Smith - President and CEO Jim Moylan - CFO Scott McFeely - SVP, Global Products and Services Conference Call Participants David Vogt - UBS Tim Long - Barclays George Notter - Jefferies Simon Leopold - Raymond James Michael Genovese - Rosenblatt Securities Samik Chatterjee - JP Morgan Alex Henderson - Needham Meta Marshall - Morgan Stanley Greg Mesniaeff - WestPark Capital Dave Kang - B. Riley FBR Tim Savageaux - Northland Capital Markets Operator Good morning, everyone, and welcome to Ciena's Fiscal Third Quarter 2023 Financial Results Conference Call.

Ciena (CIEN) came out with quarterly earnings of $0.59 per share, beating the Zacks Consensus Estimate of $0.53 per share. This compares to earnings of $0.33 per share a year ago.

Ciena Corporation (NYSE:CIEN) stock rose just over 4% in Thursday's premarket deals as the optical broadband networks operator reported expectation-beating quarterly results. At $1.07 billion, Ciena's third-quarter revenue was ahead of the $1.04 billion pencilled in by Wall Street analysts.

Shares of Ciena Corp. CIEN, +0.77% surged 2.0% toward a 2 1/2-month high in premarket trading Thursday, after the optical networking company reported fiscal third-quarter results that topped forecasts, citing increased customer activity and an elevated backlog. Net income for the quarter to July 29 rose to $29.7 million, or 20 cents a share, from $10.5 million, or 7 cents a share, in the year-ago period.

By far 2023's best-performing group, information technology companies are benefiting from job cuts, other cost-saving measures, a semiconductor recovery and of course, an artificial intelligence (AI) boom. Some of the year's biggest winners — NVIDIA, Meta Platforms and AMD — are beneficiaries of all of the above.

Strong demand trends are likely to have boosted Ciena's (CIEN) fiscal Q3 performance. However, global macro weakness remains a concern.

Ciena (CIEN) reported earnings 30 days ago. What's next for the stock?