Ciena Q2 2024 Adj EPS $0.27 Beats $0.15 Estimate, Sales $910.800M Beat $894.938M Estimate
Portfolio Pulse from Benzinga Newsdesk
Ciena (NYSE:CIEN) reported Q2 2024 adjusted EPS of $0.27, beating the estimate of $0.15. Sales were $910.8M, surpassing the $894.938M estimate but down 19.61% from last year's $1.133B.
June 06, 2024 | 11:03 am
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POSITIVE IMPACT
Ciena's Q2 2024 earnings per share of $0.27 significantly beat the analyst estimate of $0.15, and sales of $910.8M also exceeded expectations. However, sales were down 19.61% compared to the same period last year.
Ciena's earnings per share and sales both exceeded analyst expectations, which is a positive indicator for the stock price in the short term. However, the year-over-year decline in sales may temper some of the enthusiasm.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100