Ciena Corporation (NYSE:CIEN) is expected to post a positive earnings surprise when it reports second-quarter results before the market opens on Tuesday.
The telecommunications-equipment maker is likely to post a 20% rise in earnings per share to $0.60 for the quarter, with its full-year 2023 earnings expected to jump 48%, according to the Zacks Consensus Estimate.
The consensus estimate for revenues is pegged at $1.09 billion, indicating a gain of 14% from the year-ago quarter’s levels.
In April, the company reported 1Q revenue of $1.06 billion, up 25% from a year earlier, and adjusted EPS of $0.64, up 36%. It attributed the strong performance to continued gradual improvement in the supply chain environment and strong customer demand for its technology.
At the time, it guided for 2Q revenue of $1.035 billion to $1.115 billion, with an adjusted gross margin in the low 40s%, and adjusted operating expense of approximately $335 million.
Ciena distributes hardware, software and other services that support the infrastructure of telecommunication networks.
Contact the author at stephen.gunnion@proactiveinvestors.com