TECH - Here's How Ciena's Placed Before Q2 Earnings Release | Benzinga
Ciena Corporation (NYSE: CIEN) is scheduled to report second-quarter fiscal 2024 results on Jun 6.
The Zacks Consensus Estimate for earnings is pegged at 15 cents per share, implying a 79.7% decrease from the year-ago level.
For the fiscal second quarter, management expects revenues in the range of $850-$930 million.
Ciena Corporation Price and EPS Surprise
Ciena Corporation price-eps-surprise | Ciena Corporation Quote
The consensus estimate for revenues is pegged at $896.6 million, indicating a decline of 20.8% from the prior-year level.
CIEN has a trailing four-quarter earnings surprise of 21.3%, on average. Shares of Ciena have gained 1.4% in the past year compared with the sub-industry's growth of 1.1%.
Image Source: Zacks Investment Research
Factors to Note
CIEN's performance in the fiscal second quarter is likely to have been affected by the slower-than-expected normalization of order volumes from the service providers. Macroeconomic concerns are likely to result in lower order volumes from service providers in certain international geographies, especially in Europe.
In addition, supply chain-driven key component shortages, extended lead times, large orders placed in response to market demands and customer inventory builds of networking equipment are likely to ...