Ciena Q4 Adj $0.75 Beats $0.69 Estimate, Sales $1.13B Beat $1.09B Estimate
Portfolio Pulse from Benzinga Newsdesk
Ciena Corporation (NYSE:CIEN) reported Q4 adjusted earnings of $0.75 per share, surpassing the consensus estimate of $0.69, and marking a 22.95% increase from the previous year. Quarterly sales reached $1.13 billion, exceeding the $1.09 billion estimate and showing a 16.27% increase from the same period last year.
December 07, 2023 | 12:03 pm
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Ciena Corporation reported higher-than-expected Q4 earnings and sales, indicating strong financial performance and potential investor confidence.
Ciena's reported earnings and sales not only beat analyst estimates but also showed significant improvement from the previous year. This positive earnings surprise typically leads to a short-term increase in stock price as it reflects better-than-expected financial health and may attract more investors.
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