Why Ciena Stock Is Trading Down Today
Portfolio Pulse from Ryan Gustafson
Ciena Corporation (CIEN) reported better-than-expected Q2 financial results, with adjusted earnings per share of 74 cents and sales of $1.13 billion. Total Networking Platforms revenue increased by 24.6% YoY, while Total Global Services decreased by 0.7% YoY. Despite the positive results, CIEN shares are down 11.7%.
June 06, 2023 | 6:16 pm
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
Ciena Corporation reported better-than-expected Q2 results, but shares are down 11.7%. Total Networking Platforms revenue increased by 24.6% YoY, while Total Global Services decreased by 0.7% YoY.
Despite reporting better-than-expected Q2 results, Ciena's stock price is down 11.7%. This could be due to the decrease in Total Global Services revenue by 0.7% YoY, which may have raised concerns among investors about the company's growth potential.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100