Categories AlphaGraphs, Earnings, Technology

Ciena (CIEN) tops Q3 2020 estimates, expects COVID-19 related revenue disruption

Ciena Corporation’s (NYSE: CIEN) bottom line and topline results for the third quarter of 2020 surpassed the market’s views. Non-GAAP EPS of $1.06 and revenue of $976.7 million in Q3 exceeded consensus targets. However, CIEN stock dropped about 7% in the pre-market trading session.

On a GAAP basis, profit improved to $0.91 per share from $0.55 per share in the third quarter of 2019.

Ciena (CIEN) Q3 2020 Earnings AlphaGraph

CEO Gary Smith stated that COVID-related market dynamics resulted in a slow down of orders in the quarter. He added that the company expects revenue to be adversely impacted for a few quarters.

Also Read:  Streamline Health Solutions Inc. (STRM) Q2 2020 Earnings Call Transcript

Most Popular

Costco (COST) Q4 earnings, revenue top expectations

Retail giant Costco Wholesale Corporation (NASDAQ: COST) reported higher earnings and revenues for the fourth quarter of 2020, reflecting a marked increase in merchandise sales. The results also topped analysts’

Can Cintas (CTAS) take forward virus-driven shift in sales trend?

The disruption caused by coronavirus has affected almost all sectors except business service providers like Cintas Corporation (NASDAQ: CTAS), which is busy helping clients maintain hygiene and safety during the

Rite Aid’s (RAD) loss narrows in Q2 2021

Rite Aid Corporation (NYSE: RAD) reported a narrower loss in the second quarter of 2021. Net loss shrank to $0.25 per share in the recently ended quarter from $1.49 per

Top