Ciena reported Q3 revenue of $976.7 million, increasing 1.7% year over year. Net income per share was $0.91 GAAP; $1.06 adjusted (non-GAAP), increasing 49% year over year.
Gary Smith, President and CEO, Ciena said: “We delivered outstanding financial results in the third quarter, reflecting our continued innovation, market leadership and strong competitive position in an uncertain macro environment. Although COVID-related market dynamics have resulted in an orders slowdown and are likely to adversely impact our revenue for a few quarters, we are confident in our ability to continue executing on our strategy and expanding our market leadership."
On an investor webcast, Ciena executives said:
- COVID-19 is having an adverse impact on the velocity of business in general and particularly new business initiatives, especially in August
- Service providers and MSOs are expressing greater caution with regard to spending. They are also running their networks hotter.
- Optical spend growth by Webscale operators is now expected to be flat to low single-digits for this year versus the 7% to 10% that was expected at the beginning of the year.
- This year, the company believes it captured an additional 1% plus of global market share
- Roughly 50 design wins for WaveLogic 5 Extreme
- More than a dozen customers for Adaptive IP solutions, including Telefónica UK and SK Telink
https://investor.ciena.com/news/press-release-details/2020/Ciena-Reports-Fiscal-Third-Quarter-2020-Financial-Results/default.aspx
