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Jul 29, 2023
Ciena Q3 2023 Earnings Report
Ciena's Q3 2023 financial results were released, showing revenue increase and strength across all regions.
Key Takeaways
Ciena reported a 23% year-over-year increase in revenue for the fiscal third quarter of 2023, with strong performance across all regions. The company's GAAP net income was $29.7 million, or $0.20 per diluted common share, while adjusted (non-GAAP) net income was $89.1 million, or $0.59 per diluted common share.
Q3 revenue reached $1.07 billion.
GAAP net income per share was $0.20, and adjusted (non-GAAP) net income per share was $0.59.
Approximately 1.4 million shares of common stock were repurchased for $61.2 million during the quarter.
Increased customer activity and elevated backlog are expected to drive growth and market share gains.
Revenue by Segment
Forward Guidance
Ciena expects increased customer activity, combined with their elevated backlog, market leadership and expanding addressable market, will drive growth and market share gains going forward.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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