Compared to Estimates, Ciena (CIEN) Q3 Earnings: A Look at Key Metrics
Ciena (CIEN) reported $1.07 billion in revenue for the quarter ended July 2023, representing a year-over-year increase of 23%. EPS of $0.59 for the same period compares to $0.33 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $1.05 billion, representing a surprise of +1.60%. The company delivered an EPS surprise of +11.32%, with the consensus EPS estimate being $0.53.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Ciena performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Revenue- Total Networking Platforms: $846.60 million versus $855.17 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +27.4% change.
Revenue- Total Global Services: $129.30 million versus the five-analyst average estimate of $124.95 million. The reported number represents a year-over-year change of +5.5%.
Revenue- Blue Planet Automation Software and Services: $13.10 million versus the four-analyst average estimate of $20.43 million. The reported number represents a year-over-year change of -24.3%.
Revenue- Networking Platforms- Converged Packet Optical: $719 million compared to the $721.91 million average estimate based on four analysts. The reported number represents a change of +27.5% year over year.
Revenue- Software and Services- Total (Platform+Blue Planet Automation): $92 million versus $89.67 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +13.9% change.
Revenue- Networking Platforms- Routing and Switching: $127.60 million versus the four-analyst average estimate of $123.41 million.
Revenue- Platform Software and Services: $78.90 million versus the four-analyst average estimate of $69.94 million. The reported number represents a year-over-year change of +24.3%.
Revenue- Services: $202.69 million compared to the $185.17 million average estimate based on three analysts. The reported number represents a change of +10.3% year over year.
Revenue- Products: $865.20 million versus the three-analyst average estimate of $880.35 million. The reported number represents a year-over-year change of +26.4%.
Revenue- Global Services- Installation and Deployment: $46.80 million versus $40.18 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +20.9% change.
Revenue- Global Services- Maintenance Support and Training: $72.90 million versus the two-analyst average estimate of $72.61 million. The reported number represents a year-over-year change of +0.1%.
Revenue- Global Services- Consulting and Network Design: $9.60 million compared to the $14.52 million average estimate based on two analysts. The reported number represents a change of -13.5% year over year.
View all Key Company Metrics for Ciena here>>>
Shares of Ciena have returned +3.2% over the past month versus the Zacks S&P 500 composite's -1.3% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Ciena Corporation (CIEN) : Free Stock Analysis Report
