CIENA Earnings: Here’s Why the Stock is Rising Now
CIENA Corp. (NASDAQ:CIEN) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 8.95%.
CIENA Corp. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $0.23 in the quarter versus EPS of $-0.04 in the year-earlier quarter.
Revenue: Rose 13.56% to $538.4 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: CIENA Corp. reported adjusted EPS income of $0.23 per share. By that measure, the company beat the mean analyst estimate of $0.16. It beat the average revenue estimate of $533.51 million.
Quoting Management: “Differentiated by our specialist strategy, we have increased our market share, achieved steady growth, and delivered improved and more consistent financial performance over the last several quarters,” said Gary Smith, president and CEO. “We believe that by expanding our role in the industry and extending our reach within our markets, we will be positioned to deliver greater profitability that is more sustainable over time.”
Key Stats (on next page)…
Revenue increased 6.04% from $507.71 million in the previous quarter. EPS increased 1050% from $0.02 in the previous quarter.
Looking Forward: Analysts have a more positive outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has risen from a profit of $0.20 to a profit $0.22. For the current year, the average estimate has moved up from a profit of $0.44 to a profit of $0.52 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)