CIEN Stock Recent News

HANOVER, Md.--(BUSINESS WIRE)--Danish digital infrastructure provider TDC NET will deploy Ciena's (NYSE: CIEN) converged packet optical solutions to upgrade its metro and long-haul networks with 800G technology. The network upgrades will enable TDC NET to sustainably launch new, advanced services that support its net-zero emissions goal by reducing power consumption compared to its existing DWDM platform. TDC NET will deploy a modern OTN network based on Ciena's 6500 family of Packet Optical pl.

CIEN's 2Q24 earnings exceeded expectations, with revenue of $911 million and gross margins of 43.5%. Management guidance for 3Q23 was not positive, but FY24 revenue guide remains strong, indicating a potential for significant growth in 4Q24. CIEN is well-positioned to capture market share with innovative products, benefiting from rising demand for AI and machine learning among telecom players.

Morgan Stanley analyst Meta Marshall upgraded Ciena Corp CIEN from Equal-Weight to Overweight and raised the price target from $53 to $55.

Ciena's (CIEN) GeoMesh Extreme solution, powered by WL6e, is utilized by Seren Juno Network and Seren Juno Network America in order to accelerate the process of digitization in Japan.

Review Ciena's (CIEN) international revenue performance and how it affects the predictions of financial analysts on Wall Street and the future prospects for the stock.

Ciena's stock responded positively after posting Q2 2024 results, with shares spiking to $55.77, but then closed lower last week. Q2 revenue declined by 19.4% YoY to $910.8 million, causing concern among investors. Ciena is optimistic about future growth opportunities, particularly in the AI and cloud space, but risks remain due to telecom customer spending levels.

Ciena's (CIEN) fiscal Q2 performance is affected by slower-than-expected recovery of order volumes from service providers amid persistent macroeconomic concerns, especially internationally.

While the top- and bottom-line numbers for Ciena (CIEN) give a sense of how the business performed in the quarter ended April 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.

Ciena (CIEN) came out with quarterly earnings of $0.27 per share, beating the Zacks Consensus Estimate of $0.15 per share. This compares to earnings of $0.74 per share a year ago.

HANOVER, Md.--(BUSINESS WIRE)--Ciena® Corporation, a networking systems, services and software company, today announced unaudited financial results for its fiscal second quarter.