Ciena Posts 28% Revenue Growth, Beats Q3 Earnings Estimates

Ciena Corporation reported stronger-than-expected financial results for its fiscal third quarter, with profit rising to $50.3 million, or 35 cents per share, from $14.2 million the prior year, and adjusted earnings of 67 cents per share beating analyst estimates. Revenue increased 29% to $1.22 billion, driven largely by a 35% jump in networking platforms sales and a 20% rise in global services, reflecting continued strong customer demand amid the growth of AI technologies. The company expressed confidence in its future outlook, projecting fourth-quarter revenue between $1.24 billion and $1.32 billion, above analyst expectations. Several Wall Street analysts have updated their ratings and price targets on Ciena shares, with most maintaining positive views, though some have issued cautious downgrades. The company’s recent appointment of Marc Graff as Senior Vice President and CFO highlights its efforts to strengthen leadership during this growth phase. Overall, Ciena's momentum is attributed to its key role in networking infrastructure that supports AI and digital transformation.