Ciena Corp reports results for the quarter ended April 30 - Earnings Summary

• Ciena Corp CIEN.N reported quarterly adjusted earnings of 42 cents​​ per share for the quarter ended April 30, higher than the same quarter last year, when the company reported EPS of 27 cents. The mean expectation of fourteen analysts for the quarter was for earnings of 52 cents per share. Wall Street expected results to range from 49 cents to 62 cents per share.

• Revenue rose 23.6% to $1.13 billion from a year ago; analysts expected $1.09 billion.

• Ciena Corp's reported EPS for the quarter was 6 cents​.

• The company reported quarterly net income of $8.97 million.

• Ciena Corp shares had risen by 38.8% this quarter and lost 1.1% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had risen by about 3.9% in the last three months.​

• In the last 30 days, there have been no negative revisions of earnings estimates

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 12 "strong buy" or "buy," 5 "hold" and no "sell" or "strong sell." The average consensus recommendation for the communications & networking peer group is also "buy"

• Wall Street's median 12-month price target for Ciena Corp is $82.00

This summary was machine generated from LSEG data June 5 at 01:31 p.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)