Ciena Q1 Adj EPS $0.66 Beats $0.48 Estimate, Sales $1.04B Beat $1.02B Estimate
Portfolio Pulse from Benzinga Newsdesk
Ciena (NYSE:CIEN) reported Q1 adjusted EPS of $0.66, surpassing the $0.48 estimate, and sales of $1.04B, exceeding the $1.02B estimate. This represents a 3.13% increase in EPS and a 1.83% decrease in sales from the same period last year.
March 07, 2024 | 12:01 pm
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Ciena reported a significant beat on both EPS and sales estimates for Q1, with EPS at $0.66 against a $0.48 estimate and sales at $1.04B against a $1.02B estimate.
Beating both EPS and sales estimates significantly, especially by 37.5% for EPS, indicates strong financial health and operational efficiency. This outperformance, compared to analyst expectations, is likely to instill investor confidence and could lead to a short-term positive impact on CIEN's stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100