Seeking Alpha

Ciena (CIEN) +11.9% thanks to its FQ2 beat, which follows months of investor fretting over...

Ciena (CIEN) +11.9% thanks to its FQ2 beat, which follows months of investor fretting over telecom capex. FQ3 guidance is for revenue of $515M-$545M, above a $509.5M consensus. Ciena sacrificed margins a bit - while revenue rose 12% Q/Q, gross margin fell 210 bps to 42.5% - but given the size of its revenue beat, investors don't mind. Sales of integrated Ethernet/optical networking hardware (Ciena is a leader here and recently announced a refresh) +10% Y/Y and 57% of revenue. Ethernet switches +91% and now 11% of revenue; optical networking -32%, software/services +3%. Two customers (AT&T/Verizon?) made up 31% of sales. INFN +6.7%. JDSU +5.1%. FNSR +5.9%. JNPR +2.5%. ALU +4.2%. SONS +3.8%. (PR)
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