Ciena Reports Fiscal Third Quarter 2024 Financial Results
Ciena® Corporation (NYSE: CIEN), a networking systems, services and software company, today announced unaudited financial results for its fiscal third quarter endedJuly 27, 2024.
Q3 Revenue:$942.3 million
Q3 Net Income per Share: $0.10 GAAP;$0.35 adjusted (non-GAAP)
Share Repurchases: Repurchased approximately 0.6 million shares of common stock for an aggregate price of $29.0 million during the quarter
"We delivered strong results for the fiscal third quarter that reflect growing momentum with cloud providers and continued gradual recovery with service providers," saidGary Smith, president and CEO, Ciena. "With leading innovation that is well-aligned with our customers' focus on building cloud and AI-capable infrastructures, we are well-positioned to continue to gain share and deliver profitable growth.”
For the fiscal third quarter 2024, Ciena reported revenue of$942.3 millionas compared to$1.07 billionfor the fiscal third quarter 2023.
Ciena's GAAP net income for the fiscal third quarter 2024 was$14.2 million, or$0.10per diluted common share, which compares to a GAAP net income of$29.7 million, or$0.20per diluted common share, for the fiscal third quarter 2023.
Ciena's adjusted (non-GAAP) net income for the fiscal third quarter 2024 was$50.8 million, or$0.35per diluted common share, which compares to an adjusted (non-GAAP) net income of$89.1 million, or$0.59per diluted common share, for the fiscal third quarter 2023.
Fiscal Third Quarter 2024 Performance Summary
The tables below (in millions, except percentage data) provide comparisons of certain quarterly results to the prior year. Appendices A and B set forth reconciliations between the GAAP and adjusted (non-GAAP) measures contained in this release.
