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Ciena (CIEN) Reports Q2 Earnings: What Key Metrics Have to Say
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For the quarter ended April 2023, Ciena (CIEN - Free Report) reported revenue of $1.13 billion, up 19.3% over the same period last year. EPS came in at $0.74, compared to $0.50 in the year-ago quarter.
The reported revenue represents a surprise of +4.35% over the Zacks Consensus Estimate of $1.09 billion. With the consensus EPS estimate being $0.60, the EPS surprise was +23.33%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Ciena performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Revenue- Total Global Services: $127.80 million versus the five-analyst average estimate of $124.54 million. The reported number represents a year-over-year change of -0.7%.
Revenue- Total Networking Platforms: $914.90 million compared to the $865.89 million average estimate based on five analysts. The reported number represents a change of +24.6% year over year.
Revenue- Software and Service-Platform Software and Services: $69.40 million versus the four-analyst average estimate of $78.52 million. The reported number represents a year-over-year change of +0.4%.
Revenue- Networking Platforms-Converged Packet Optical: $784.50 million compared to the $742.14 million average estimate based on four analysts. The reported number represents a change of +25.5% year over year.
Revenue- Software and Services -Total (Platform +Blue Planet Automation): $90 million versus $103.75 million estimated by four analysts on average.
Revenue- Software and Service-Software-Blue Planet Automation Software and Services: $20.60 million versus $18.53 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +21.9% change.
Revenues- Services: $197.33 million versus $189.43 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +4.3% change.
Revenues- Products: $935.33 million compared to the $892.78 million average estimate based on three analysts. The reported number represents a change of +23.1% year over year.
Revenue- Global Services-Maintenance Support and Training: $73.20 million compared to the $75.54 million average estimate based on two analysts. The reported number represents a change of -1.1% year over year.
Revenue- Global Services-Installation and Deployment: $39.50 million versus the two-analyst average estimate of $39.32 million. The reported number represents a year-over-year change of -4.6%.
Revenue- Global Services-Consulting and Network Design: $15.10 million compared to the $12.45 million average estimate based on two analysts. The reported number represents a change of +13.5% year over year.
Gross profit- Products: $393.45 million compared to the $368.69 million average estimate based on three analysts.
Shares of Ciena have returned +8.4% over the past month versus the Zacks S&P 500 composite's +3.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Ciena (CIEN) Reports Q2 Earnings: What Key Metrics Have to Say
For the quarter ended April 2023, Ciena (CIEN - Free Report) reported revenue of $1.13 billion, up 19.3% over the same period last year. EPS came in at $0.74, compared to $0.50 in the year-ago quarter.
The reported revenue represents a surprise of +4.35% over the Zacks Consensus Estimate of $1.09 billion. With the consensus EPS estimate being $0.60, the EPS surprise was +23.33%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Ciena performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Revenue- Total Global Services: $127.80 million versus the five-analyst average estimate of $124.54 million. The reported number represents a year-over-year change of -0.7%.
- Revenue- Total Networking Platforms: $914.90 million compared to the $865.89 million average estimate based on five analysts. The reported number represents a change of +24.6% year over year.
- Revenue- Software and Service-Platform Software and Services: $69.40 million versus the four-analyst average estimate of $78.52 million. The reported number represents a year-over-year change of +0.4%.
- Revenue- Networking Platforms-Converged Packet Optical: $784.50 million compared to the $742.14 million average estimate based on four analysts. The reported number represents a change of +25.5% year over year.
- Revenue- Software and Services -Total (Platform +Blue Planet Automation): $90 million versus $103.75 million estimated by four analysts on average.
- Revenue- Software and Service-Software-Blue Planet Automation Software and Services: $20.60 million versus $18.53 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +21.9% change.
- Revenues- Services: $197.33 million versus $189.43 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +4.3% change.
- Revenues- Products: $935.33 million compared to the $892.78 million average estimate based on three analysts. The reported number represents a change of +23.1% year over year.
- Revenue- Global Services-Maintenance Support and Training: $73.20 million compared to the $75.54 million average estimate based on two analysts. The reported number represents a change of -1.1% year over year.
- Revenue- Global Services-Installation and Deployment: $39.50 million versus the two-analyst average estimate of $39.32 million. The reported number represents a year-over-year change of -4.6%.
- Revenue- Global Services-Consulting and Network Design: $15.10 million compared to the $12.45 million average estimate based on two analysts. The reported number represents a change of +13.5% year over year.
- Gross profit- Products: $393.45 million compared to the $368.69 million average estimate based on three analysts.
View all Key Company Metrics for Ciena here>>>Shares of Ciena have returned +8.4% over the past month versus the Zacks S&P 500 composite's +3.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.