CIEN

Ciena Corp. Q1 Profit Decreases, but beats estimates

(RTTNews) - Ciena Corp. (CIEN) reported earnings for first quarter that decreased from last year but beat the Street estimates.

The company's earnings came in at $49.55 million, or $0.34 per share. This compares with $76.24 million, or $0.51 per share, in last year's first quarter.

Excluding items, Ciena Corp. reported adjusted earnings of $96.79 million or $0.66 per share for the period.

Analysts on average had expected the company to earn $0.48 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 1.9% to $1.04 billion from $1.06 billion last year.

Ciena Corp. earnings at a glance (GAAP) :

-Earnings (Q1): $49.55 Mln. vs. $76.24 Mln. last year. -EPS (Q1): $0.34 vs. $0.51 last year. -Revenue (Q1): $1.04 Bln vs. $1.06 Bln last year.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Tags

More Related Articles

Info icon

This data feed is not available at this time.

Sign up for the TradeTalks newsletter to receive your weekly dose of trading news, trends and education. Delivered Wednesdays.