Ciena Corp reports results for the quarter ended July 31 - Earnings Summary

• Ciena Corp CIEN reported quarterly adjusted earnings of 67 cents​​ per share for the quarter ended July 31, higher than the same quarter last year, when the company reported EPS of 35 cents. The mean expectation of fourteen analysts for the quarter was for earnings of 53 cents per share. Wall Street expected results to range from 51 cents to 58 cents per share.

• Revenue rose 29.4% to $1.22 billion from a year ago; analysts expected $1.18 billion.

• Ciena Corp's reported EPS for the quarter was 35 cents​.

• The company reported quarterly net income of $50.31 million.

• Ciena Corp shares had risen by 16.6% this quarter and gained 11.8% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 3.8% in the last three months.​

• In the last 30 days, there have been no earnings estimate revisions by analysts covering the company.

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 13 "strong buy" or "buy," 4 "hold" and 1 "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 $90.00, about 5.4% below its last closing price of $94.82

This summary was machine generated from LSEG data September 4 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)