Ciena Q2 Results Top Estimates - Quick Facts

Networking systems firm Ciena Corp. (CIEN) on Thursday reported that net income for the second quarter grew to $103.12 million or $0.66 per share from $91.66 million or $0.59 per share in the prior-year quarter.

Excluding items, adjusted net income for the quarter was $97.61 million or $0.62 per share, compared to $117.43 million, or $0.76 per share in the year-ago quarter.

On average, 18 analysts polled by Thomson Reuters expected the company to report earnings of $0.48 per share for the quarter. Analysts' estimates typically exclude special items.

Total revenue for the quarter decreased 6.7 percent to $833.93 million from $894.05 million in the same quarter last year. Analysts expected revenues of $829.27 million for the quarter.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
General Electric Co. reported Tuesday narrower net loss in its second quarter with strong growth in revenues. The company also generated strong order growth. Looking ahead, the company reiterated its outlook for adjusted earnings per share, while increased its 2021 outlook for Industrial free cash flow range. In pre-market activity on NYSE, GE shares were gaining around 4 percent. The U.S. Food and Drug Administration announced recall of Old Soul's Farms LLC's certain leafy green products as well as Excalibur Seasoning Co.'s Haen Meats Seasoning Blend, citing potential contamination with Listeria monocytogenes, an organism. Consumption of food contaminated with L. monocytogenes can cause listeriosis, a serious infection and sometimes fatal infections. Tobacco giant Philip Morris International plans to stop selling cigarettes in the United Kingdom in the next decade, according to its CEO Jacek Olczak. In an interview with the Daily Mail Sunday, Olczak said the sales of the company's most popular product Marlboro cigarettes will also be stopped. The move is said to be part of the company's plan to phase out traditional tobacco products.
Follow RTT