Ciena Posts Q2 Earnings Beat Backed By Improved Supply Chain Dynamics
Portfolio Pulse from Anusuya Lahiri
Ciena Corp reported Q2 FY23 revenue growth of 19.3% YoY to $1.13 billion, beating the consensus estimate of $1.09 billion. Adjusted gross margin expanded to 43.7%, and non-GAAP EPS of $0.74 beat the consensus of $0.61. The company held $1.34 billion in cash and equivalents and generated $229.8 million in operating cash flow.
June 06, 2023 | 2:15 pm
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NEGATIVE IMPACT
Ciena Corp's Q2 FY23 revenue and EPS beat estimates, driven by improved supply chain dynamics. However, the stock price is down 10.4%.
Ciena Corp reported better-than-expected Q2 FY23 results, with revenue and EPS beating estimates. The company's improved supply chain dynamics contributed to the growth. Despite the positive results, the stock price is down 10.4%, indicating that the market may have expected even better performance or is reacting to other factors.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100