Ciena Q1 Results Top Estimates

RTTNews | 904 dagar sedan

(RTTNews) - Networking systems firm Ciena Corp. (CIEN) reported on Monday that profit for the first quarter increased from last year, driven by strong 25 percent revenue growth despite supply chain challenges. Adjusted earnings per share and quarterly revenues topped analysts' expectations.

In pre-market trading on the NYSE, Ciena shares are surging $4.78 or 9.74% to $53.87.

"We delivered record revenue in the first quarter, reflecting continued gradual improvement in the supply chain environment and strong customer demand for our market-leading technology," said Gary Smith, president and CEO of Ciena.

For the first quarter, the Hanover, Maryland-based company reported that net income increased to $76.24 million or $0.51 per share from $45.82 million or $0.29 per share in the prior-year quarter.

Excluding items, adjusted net income for the quarter was $95.56 million or $0.64 per share, compared to $72.55 million or $0.47 per share in the year-ago quarter.

On average, 15 analysts polled by Thomson Reuters expected the company to report earnings of $0.36 per share for the quarter. Analysts' estimates typically exclude special items.

Total revenue for the quarter increased 25.1 percent to $1.06 billion from $844.44 million in the same quarter last year. Analysts expected revenues of $1.03 billion for the quarter.

On a geographic basis, Americas revenues grew to $765.1 million from $595.1 million and revenues from Europe, Middle East and Africa edged up to $152.8 million from $150.8 million, and Asia Pacific revenues increased to $138.6 million from $98.5 million last year.

"With strong momentum across our business, supported by robust fundamental drivers and visibility provided by our backlog, we remain confident in our ability to continue to take market share," Smith added.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com

Taggar: CIEN

Australian Dollar Rises Against Majors

The Australian dollar strengthened against other major currencies in the Asian session on Wednesday.

RTTNews | 28 minuter sedan

Australia Inflation Accelerates To 1-Year High

Australia's consumer price inflation accelerated more than expected to a one-year high in July, indicating a more gradual approach to monetary policy easing. The CPI indicator advanced 2.8 percent year-on-year in July, following June's 1.9 percent rise, the Australian Bureau of Statistics reported. This was the strongest since July 2024.

RTTNews | 1h 40minuter sedan

European Economic News Preview: German GfK Consumer Confidence Due

Consumer sentiment survey data from Germany is the top economic news due on Wednesday, headlining a light day for the European economic news. At 2.00 am ET, the market research group GfK publishes Germany's monthly consumer confidence survey results. The consumer sentiment indicator is forecast to fall to -22 in September from -21.5 in August.

RTTNews | 2h 15minuter sedan

Australian Market Extends Early Gains In Mid-market

The Australian stock market is extending it early gains in mid-market moves on Wednesday, recouping the losses in the previous session, with the benchmark S&P/ASX 200 moving above the 8,950 level, following the broadly positive cues from Wall Street overnight, with gains across most sectors led by mining and financial stocks.

RTTNews | 3h 4minuter sedan

Asian Markets Mixed In Cautious Trades

Asian stock markets are trading mixed on Wednesday, following the broadly positive cues from Wall Street overnight, as traders remain cautious and seem reluctant to make significant moves ahead of the release of key US economic data later in the week, including second quarter GDP and the US Fed's preferred readings on consumer price inflation, which could impact the outlook for interest rates.

RTTNews | 3h 8minuter sedan

Mild Upside Seen For Thai Stock Market

The Thai stock market on Tuesday ended the two-day winnings streak in which it had picked up almost 20 points or 1.6 percent. The Stock Exchange of Thailand now sits just above the 1,250-point plateau although it figures to move back to the upside again on Wednesday.

RTTNews | 4h 35minuter sedan

Japanese Market Slightly Lower

The Japanese stock market is slightly lower in choppy trading on Wednesday, extending the losses in the previous session, despite the broadly positive cues from Wall Street overnight. The Nikkei 225 is staying below the 42,400 level, with a mixed performance across all sectors.

RTTNews | 4h 53minuter sedan

Indonesia Shares May Reverse Tuesday's Losses

The Indonesia stock market headed south again on Tuesday, one day after snapping the two-day slide in which it had fallen almost 85 points or 1.1 percent. The Jakarta Composite Index now sits just above the 7,900-point plateau although it's looking to bounce higher again on Wednesday. The global forecast for the Asian markets is cautiously optimistic, with tech shares likely to rise ahead of key earnings news later in the day. The European markets were down and the U.S. bourses were up and the Asian markets figures to follow the latter lead.

RTTNews | 5h 5minuter sedan

EURUSD	1.16196	GBPUSD	1.34599	AUDUSD	0.64871
USDJPY	147.717	USDCAD	1.38395	USDCHF	0.80524