- Ciena (CIEN) shares are currently up 7.6% after the company reported fiscal Q2 beats where revenue was down 7% Y/Y but beat consensus estimates by about $5M. Adjusted EPS of $0.62 was $0.14 ahead of estimates.
- Adjusted gross margin was 49.2%, topping the 46.3% consensus.
- “We delivered strong fiscal second quarter results as we continued to see encouraging signs in the market environment, including improvements in customer spending,” says CEO Gary Smith. “These dynamics, combined with our business and financial performance in the first half of the year, give us strong visibility and confidence in our ability to achieve our financial targets as we move through the year.”
- Earnings press release.