Ciena Stock: Ciena Earnings Top Estimates, But Fiber-Optics Gear Maker Fall

Ciena (CIEN) on Thursday reported fiscal first-quarter profit and revenue that topped consensus estimates. Revenue guidance for Ciena stock came in below expectations.


For the quarter ending Jan. 31, Ciena earnings rose 3% to 66 cents a share on an adjusted basis. Revenue fell nearly 2% to$1.04 billion.

A year earlier, the Hannover, Md.-based maker of optical communications gear, earned 64 cents a share on sales of $1.057 billion. Analysts expected Ciena earnings of 48 cents on sales of $1.02 billion.

Ciena’s fiber optics gear is built into telecom networks and hyperscale data centers operated by internet giants. Telecom customers have been ordering less network gear.

Ciena Stock: Guidance Misses

For fiscal Q2, Ciena forecast revenue of $890 million at the mid-point of guidance, missing estimates of $1.097 billion.

On the stock market today, Ciena stock fell 11.2% to near 55.

Short interest had climbed ahead of the Ciena earnings report. Short sellers borrow shares and sell them in the expectation of a price drop, after which they buy them back at a lower price, return them to the lender, and pocket the difference.

Shares had climbed 36% in 2024 prior to the Ciena earnings report.

Heading into the Ciena earnings report, the company owned a Relative Strength Rating of 90 out of a best-possible 99, according to IBD Stock Checkup.

Follow Reinhardt Krause on Twitter @reinhardtk_tech for updates on artificial intelligence, cybersecurity and cloud computing.


IBD Digital: Unlock IBD’s Premium Stock Lists, Tools And Analysis Today

Learn How To Time The Market With IBD’s ETF Market Strategy

IBD Live: A New Tool For Daily Stock Market Analysis

Want To Get Quick Profits And Avoid Big Losses? Try SwingTrader

Market Keeps Rising; Watch Out For This


Read More

Leave a Reply

Your email address will not be published. Required fields are marked *

Discover more from Investor News Blog Finance Exchange News

Subscribe now to keep reading and get access to the full archive.

Continue reading