Networking Platform Sales Down

  • Ciena’s profit and revenue declined in Q3
  • Lower sales in networking platforms business
  • Profit of $14.2 million, down from $29.7 million a year ago
  • Adjusted earnings at 35 cents a share, beating analyst estimates of 31 cents
  • Revenue dropped to $942.3 million from $1.07 billion
  • Analysts expected $928 million

Ciena, a networking-systems and software company based in Hanover, MD, reported a decrease in profit and revenue for the fiscal third quarter. The company posted a profit of $14.2 million or 10 cents per share, down from $29.7 million or 20 cents per share a year earlier. Adjusted earnings were 35 cents per share, surpassing analyst estimates of 31 cents per share. Revenue fell to $942.3 million from $1.07 billion. Analysts polled by FactSet had expected $928 million. The decline was mainly due to lower sales in the networking platforms segment, which accounts for a significant portion of total revenue, dropping from $846.6 million a year prior.

Factuality Level: 7
Factuality Justification: The article provides accurate and objective information about Ciena’s financial performance in the fiscal third quarter, including profit, revenue, and sales figures. It also includes analyst estimates for comparison. However, it lacks context or background information on the company and its industry, which could make it harder for readers to fully understand the significance of these numbers.
Noise Level: 3
Noise Justification: The article provides relevant financial information about Ciena’s fiscal third quarter performance but lacks in-depth analysis or context on the reasons behind the fall in profit and revenue. It also does not explore potential consequences for the company or the industry, nor does it offer actionable insights or solutions.
Public Companies: Ciena (CIEN)
Key People: Don Nico (Author)

Track all markets on TradingView

Financial Relevance: Yes
Financial Markets Impacted: Ciena’s stock price and other networking companies
Financial Rating Justification: The article discusses Ciena’s financial performance, including profit and revenue changes, which are relevant to the company’s financial health. Additionally, it mentions that the results impacted analyst expectations and could potentially affect the company’s stock price as well as other networking companies in the market.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Extreme Rating Justification: There is no mention of an extreme event in the text.
Move Size: No market move size mentioned.
Sector: Technology
Direction: Down
Magnitude: Large
Affected Instruments: Stocks

Reported publicly: www.marketwatch.com