From Barchart: 2024-12-12 12:23:00

Ciena (NYSE:CIEN) stock rose 12% despite missing earnings expectations in Q4. Earnings per share were $0.54, down from $0.75 last year, below the $0.65 estimate. Revenue was $1.12 billion, a 0.5% decline, meeting analyst expectations.

Networking platforms revenue was $859 million, a 2% drop but beating the $842.8 million projection. Converged Packet Optical revenue increased 4.2% to $779.6 million, surpassing the $728.5 million forecast.

Adjusted gross margins fell to 41.6% from 43.7% last year, below the 43.8% estimate due to cost pressures impacting profitability.

Lawton W. Fitt appointed as independent Chair of the Board of Directors effective December 11, 2024. Patrick H. Nettles to retire after 2025 Annual Meeting but will support Fitt’s transition on the Board.



Read more at Barchart:: Ciena Shares Surge 12% Despite Q4 Earnings Miss