Ciena Corporation (NYSE: CIEN) reported a 74% jump in earnings for the second quarter of 2020 driven by higher revenue and lower operating expenses. The results exceeded analysts’ expectations.
Prior to suspending repurchases during the quarter, the company repurchased about 0.6 million shares of common stock for an aggregate price of $23.8 million during the quarter. The company had a strong balance sheet and solid cash flow generation.
The company said it is well-positioned to manage through the current set of challenges presented by the COVID-19 pandemic. In light of current market conditions, the company has suspended its share repurchase program and is exercising prudent operating expense management.
Past Performance
Most Popular
Infographic: Highlights of Halliburton’s (HAL) Q1 2024 earnings results
Energy giant Halliburton Company (NYSE: HAL) Tuesday announced financial results for the first quarter of 2024, reporting lower earnings and a modest increase in revenues. First-quarter revenue edged up 2%
UPS Earnings: United Parcel Service Q1 2024 revenue and earnings fall
United Parcel Service, Inc. (NYSE: UPS) Tuesday reported lower revenues and adjusted profit for the first quarter of 2024. The company reaffirmed its full-year 2024 guidance. On an adjusted basis,
Key highlights from Philip Morris’ (PM) Q1 2024 earnings results
Philip Morris International Inc. (NYSE: PM) reported first quarter 2024 earnings results today. Net revenues increased 9.7% year-over-year to $8.8 billion. Organic revenue growth was 11%. Net earnings attributable to
