Ciena Guides 4Q Revenue to $1.75B, ±$50M
CIEN has more than doubled off its 52-week low of $92.46.
Summary
Ciena issued 4Q revenue guidance of $1.75 billion, plus or minus $50 million, and also guided 4Q adjusted gross margin to 45% plus or minus 50 basis points and adjusted operating margin to 20% plus or minus 50 basis points. The guidance follows a strong Q2 where revenue grew 39.5% year-over-year, and a $2.875 billion convertible notes offering completed in June. The company reported Q3 earnings that were up, with Q3 revenue beating on optical networking strength and profit climbing, and it lifted its outlook as AI drives higher profit. The midpoint of the 4Q revenue guidance implies roughly flat sequential revenue from Q2's reported level, but the company has not provided a comparable prior-quarter figure in this release. Traders will compare this guidance to consensus estimates; a material deviation could move the stock.
At the time of this announcement, CIEN was trading at $342.00 on NYSE in the Technology sector, with a market capitalization of approximately $50.1B. The 52-week trading range was $92.46 to $637.51. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.