Ciena Reports Stronger-Than-Expected Q2 Results, CEO Highlights Bandwidth Demand Growth
Portfolio Pulse from Anusuya Lahiri
Ciena Corp (NYSE:CIEN) reported stronger-than-expected Q2 2024 results with revenue of $910.80 million and an adjusted EPS of $0.27, both beating analyst estimates. Despite a 19.6% revenue decline year-on-year, the company saw a 5.62% increase in share price. CEO Gary Smith highlighted robust growth in bandwidth demand.
June 06, 2024 | 1:45 pm
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Ciena Corp reported stronger-than-expected Q2 2024 results with revenue of $910.80 million and an adjusted EPS of $0.27, both beating analyst estimates. Despite a 19.6% revenue decline year-on-year, the company saw a 5.62% increase in share price. CEO Gary Smith highlighted robust growth in bandwidth demand.
Ciena's stronger-than-expected Q2 results, with both revenue and EPS beating analyst estimates, have positively impacted the stock price, which increased by 5.62%. The CEO's comments on robust bandwidth demand growth further support a positive outlook.
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