Ciena Earnings: CIEN Stock Soars on Q2 Beat

Ciena earnings for the company’s fiscal second quarter of 2019 have CIEN stock flying high on Thursday.

Ciena Earnings: CIEN Stock Soars on Q2 Beat

Source: Shutterstock

Ciena (NYSE:CIEN) starts off its earnings report for its fiscal second quarter of the year with earnings per share of 48 cents. This is well above the company’s earnings per share of 23 cents from the same time last year. It was also a blessing to CIEN stock by beating out Wall Street’s earnings per share estimate of 41 cents for the period.

Net income reported in the Ciena earnings release for its fiscal second quarter of 2019 comes in at $52.74 million. This is better than the company’s net income of $13.86 million reported in its fiscal second quarter of 2018.

The Ciena earnings report for its fiscal second quarter of the year also has operating income coming in at $80.32 million. That’s a major increase over its operating income of $32.07 million reported in the same period of the year prior.

Ciena earnings for its fiscal second quarter of 2019 also includes revenue of $865.01 million. This is an improvement over the company’s revenue of $729.98 million reported in its fiscal second quarter of the previous year. It was also good news for CIEN stock by coming in above analysts’ revenue estimate of $819.00 million for the quarter.

“Today we reported very strong quarterly performance, including continued market share gains, driven by our technology leadership and diversified customer base in high growth markets,” Gary Smith, President and CEO of Ciena, said in a statement. “We are entering the second half with strong visibility and increased confidence for the full fiscal year supported by favorable industry dynamics and growing competitive advantage.”

CIEN stock was up 25% as of Thursday morning.

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2019/06/ciena-earnings-cien-stock-soars-on-q2-beat/.

©2022 InvestorPlace Media, LLC