Ciena Beats Expectations
March 5, 2021
Ciena reported unaudited financial results for its fiscal first quarter ended January 30, 2021. The firm had revenue of $757.1 million which was down 9.1%, but better than the $749.6 million expectation. Non-GAAP earnings of 52 cents a share were better than the consensus estimate for 45 cents.
"We delivered solid revenue and profitability in the first fiscal quarter in the
face of continued challenging market conditions and a dynamic industry
environment," said Gary Smith, president and CEO of Ciena. "Our strong market
position has enabled us to start the year largely as expected, and we are
leveraging our innovation leadership and competitive advantage to deliver on our
long-term growth opportunities."