Ciena reported revenue of $1.13 billion or its fiscal second quarter ended April 29, 2023, up 19% as compared to $949.2 million for the fiscal second quarter 2022.
Ciena's GAAP net income for the fiscal second quarter 2023 was $57.7 million, or $0.38 per diluted common share, which compares to a GAAP net income of $38.9 million, or $0.25 per diluted common share, for the fiscal second quarter 2022.
Ciena's adjusted (non-GAAP) net income for the fiscal second quarter 2023 was $110.4 million, or $0.74 per diluted common share, which compares to an adjusted (non-GAAP) net income of $76.4 million, or $0.50 per diluted common share, for the fiscal second quarter 2022.
"We delivered outstanding results for the fiscal second quarter as we were able to ship more to customers with continued improvements in supply chain dynamics," said Gary Smith, president and CEO of Ciena. "We are confident in our ability to take market share given our backlog and strategic industry position with market-leading technologies and an expanding addressable market."
Some highlights
- One customer represented 10%-plus of revenue for a total of 10.9% of revenue
- Cash and investments totaled $1.34 billion
- Cash flow from operations totaled $229.8 million
- Headcount totaled 8,385
- Non-telco represented 42% of total revenue in fiscal Q2 2023
- Direct Cloud Provider revenue increased 20% YoY
- Service Provider revenue increased 22% YoY
- Routing and Switching revenue increased 19% YoY in fiscal Q2 2023, reflecting strong contribution across the routing portfolio
- APAC revenue increased 60% YoY and 19% QoQ driven by strength in India
