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Ciena Earnings: CIEN Stock Surges 19% Despite Q4 Miss

Ciena (NYSE:CIEN) earnings for the telecommunication company’s fiscal fourth quarter of 2019 have CIEN stock taking off on Thursday. This is despite its adjusted EPS of 58 cents missing Wall Street’s estimate of 63 cents. However, the company’s revenue of $968.00 million is better than analysts’ estimates of $964.29 million for the quarter.

Ciena Earnings: CIEN Stock Surges 19% Despite Q4 Miss
Source: Michael Vi / Shutterstock.com

Let’s take a closer look at the most recent Ciena earnings report.

  • Adjusted per-share earnings for the quarter are up 9.43% from 53 cents in the fiscal fourth quarter of 2018.
  • Revenue is 7.60% higher than the $899.40 million reported during the same time last year.
  • Gross profit of $419.70 million is 5.43% better YoY than $398.08 million.
  • Operating income of $93.20 million is a 2.79% drop from last year’s $95.87 million.
  • The Ciena earnings report also includes a net income of $80.33 million.
  • That’s a 25.55% increase over the company’s net income of $63.98 from the same period of the year prior.

Gary Smith, President and CEO of Ciena, has this to say about the CIEN stock earnings.

“Our outstanding Q4 financial performance rounded out an extraordinary year of industry-leading growth and profitability. Our innovation, diversification and scale uniquely position us to continue taking share while delivering improved operating margin and driving sustained EPS growth in 2020.”

CIEN stock was up 18.58% as of Thursday afternoon. The stock is also up 4.33% since the start of the year.

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/2019/12/ciena-earnings-boost-cien-stock-despite-miss/.

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