Ciena reports sales of $3.63 billion, supply chain improvements

Ciena reported revenue of $971.0 million for its fiscal fourth quarter ended October 29, 2022, as compared to $1.04 billion for the fiscal fourth quarter 2021. Ciena's GAAP net income for the fiscal fourth quarter 2022 was $57.6 million, or $0.39 per diluted common share, which compares to a GAAP net income of $103.5 million, or $0.66 per diluted common share, for the fiscal fourth quarter 2021.

For fiscal year 2022, Ciena reported revenue of $3.63 billion, as compared to $3.62 billion for fiscal year 2021.

"Our strong fiscal fourth quarter financial results were better than expected as we benefited from some favorable supply chain developments in the second half of the quarter," said Gary Smith, president and CEO of Ciena. "Looking ahead, we expect to deliver outsized revenue growth in fiscal 2023 given our significant backlog and continued signs of gradual supply improvement. And, we remain confident that the durability of secular demand drivers and our strategic investments to expand our addressable market position us to deliver strong revenue growth over the next several years."

Some highlights:

• Non-telco represented 38% of total revenue in fiscal Q4 2022
• Routing and Switching revenue increased 39% YoY in fiscal Q4 2022, reflecting strong contribution from the recently acquired Vyatta platform and organic portfolio enhancements
• Platform Software and Services increased 8% YoY in fiscal Q4 2022, representing 7% of total revenue.
• GAAP R&D investment was approximately 17.2% of total revenue in fiscal Q4 2022
• There were 776 100G+ total customers, which includes 17 new wins on WaveLogic Ai and 15 new wins on WaveLogic 5 Extreme

https://investor.ciena.com/static-files/f91d0663-ba27-4d7a-bfd6-a7a64880f294

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Broadcom reports Q4 revenue of$8.9 billion, infrastructure silicon remains strong

Broadcom reported Q4 revenue of $8.930 billion, up 21% from $7.407 billion for the same period a year earlier. Earnings per common share - diluted amounted to $7.83, compared with $4.45 a year earlier.

•  Semiconductor solution sales amounted to $7.092 billlion compared with $5.634 billion a year earlier
• Infrastructure software sales amounted to $1.838 billion compared with $1.773 billion a year earlier

"Broadcom's fiscal year 2022 revenue grew 21% year-over-year to a record $33.2 billion, as a result of strong demand from hyperscale, service providers, and enterprise," said Hock Tan, President and CEO of Broadcom Inc. "This growth was driven by our strong partnerships with customers and accelerated adoption of our next generation technologies. As we look into fiscal 2023, our increased R&D investments during the preceding years position us to extend our leadership in next generation products within the end markets we address."

"In fiscal 2022 we achieved record adjusted EBITDA margin of 63%, generating $16.3 billion in free cash flow or 49% of revenue, demonstrating our stable and focused business model," said Kirsten Spears, CFO of Broadcom Inc. "Consistent with our commitment to return cash to shareholders, we will resume our authorized share repurchase programs for the remaining $13 billion, and we are increasing our quarterly common stock dividend by 12 percent to $4.60 per share for fiscal year 2023. The target fiscal 2023 annual common stock dividend of $18.40 per share is a record, and the twelfth consecutive increase in annual dividends since we initiated dividends in fiscal 2011."

Cash from operations of $4,583 million for the fourth quarter, less capital expenditures of $122 million, resulted in $4,461 million of free cash flow, or 50 percent of revenue.

https://investors.broadcom.com/news-releases/news-release-details/broadcom-inc-announces-fourth-quarter-and-fiscal-year-2022

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NETGEAR's Q3 sales drop 14% yoy to $249.6 million

NETGEAR reported Q3 2022 net revenue of $249.6 million, a decrease of 14.0% from the comparable prior year quarter. Third quarter 2022 GAAP net income per diluted share of $0.10, as compared to $0.31 in the comparable prior year quarter.

Patrick Lo, Chairman and Chief Executive Officer of NETGEAR, commented, “In the third quarter, we achieved revenue in the upper half of our guidance range, enabled by continued strong demand for our high-end WiFi mesh, 5G mobile hotspots, and ProAV managed switches. We delivered record revenue in the SMB business despite continued supply challenges throughout the quarter and experienced year over year growth in end user demand for our super premium WiFi mesh systems and 5G mobile hotspots. The overall market for super premium WiFi mesh, led by us, continues to grow year over year while the rest of the WiFi market contracted double digits, a strong validation of our CHP product strategy. We came in below guidance on operating margin due to supply constraints, primarily on our SMB and premium CHP products, which resulted in a missed opportunity to further improve our product revenue mix overall.”

https://investor.netgear.com/financials/quarterly-results/default.aspx

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Ribbon sees strength in IP Optical Networks sales

Ribbon Communications reported Q3 revenue of $207 million, compared to $210 million for the third quarter of 2021 and $206 million for the second quarter of 2022. Product and service bookings-to-revenue was 1.28x in the third quarter of 2022, with IP Optical Networks at 1.45x.

"I am excited to share the significant progress we have made this quarter towards improving the fundamentals of our IP Optical Networks business. In many ways this was a record quarter, with revenue plus bookings for the IP Optical Networks segment handily exceeding previous levels," noted Bruce McClelland, President and Chief Executive Officer of Ribbon Communications. "This resulted in a significant improvement in gross margin and a major step toward profitability for the segment. We also received a significant validation of our IP Routing strategy with a major new 5G Cell Site Router win in India this quarter."  

McClelland continued, "Overall results for the quarter were impacted by the timing of several U.S. Federal Cloud & Edge deals and delays of several shipments the last few days of the quarter. We continue to anticipate a sequentially stronger fourth quarter in both of our businesses supported by increased backlog entering the quarter, although we are taking a more cautious approach and have reduced our growth expectations given the macro-operating environment.

Customer and Company Highlights

• Awarded 5G Cell Site Router deal with top tier mobile carrier in India
• Appointed Scott Mair, former President, AT&T Networks Engineering and Operations, to Ribbon Board of Directors
• Verizon and AT&T were greater than 10% customers in the third quarter
• Ribbon selected by Electricity Transmission Operator MEPSO for Network Modernization project
• Paritel selected Ribbon to comply with French government mandate to combat Robocall, Fraud and Call Spoofing
• Ribbon launched Microsoft Teams Enablement Bundle with Poly and TD SYNNEX
• Ribbon SBC received certification supporting Google Voice SIP interoperability

https://ribboncommunications.com/company/media-center/press-releases/ribbon-communications-inc-reports-third-quarter-2022-financial-results

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AMD says PC sales weak, data center sales on target

AMD released preliminary financial results, saying its third quarter revenue is expected to be approximately $5.6 billion, an increase of 29% year-over-year. The company previously expected revenue to increase approximately 55% year-over-year at the mid-point of guidance, citing lower than expected Client segment revenue resulting from reduced processor shipments due to a weaker than expected PC market and significant inventory correction actions across the PC supply chain.

Revenue for the Data Center, Gaming, and Embedded segments each increased significantly year-over-year in-line with the company’s expectations.

Gross margin is expected to be approximately 42% and non-GAAP() gross margin is expected to be approximately 50%. AMD previously expected non-GAAP gross margin to be approximately 54%. The gross margin shortfall to expectations was primarily due to lower revenue driven by lower Client processor unit shipments and average selling price (ASP). In addition, the third quarter results are expected to include approximately $160 million of charges primarily for inventory, pricing, and related reserves in the graphics and client businesses.

“The PC market weakened significantly in the quarter,” said AMD Chair and CEO Dr. Lisa Su. “While our product portfolio remains very strong, macroeconomic conditions drove lower than expected PC demand and a significant inventory correction across the PC supply chain. As we navigate the current market conditions, we are pleased with the performance of our Data Center, Embedded, and Gaming segments and the strength of our diversified business model and balance sheet. We remain focused on delivering our leadership product roadmap and look forward to launching our next-generation 5nm data center and graphics products later this quarter.”

https://ir.amd.com/news-events/press-releases/detail/1093/amd-announces-preliminary-third-quarter-2022-financial

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Ciena's revenue dips 12% to $868m due to supply constraints

Ciena reported revenue of $868.0 million for its fiscal third quarter ended July 30, 2022, down 12.2% from $988.1 million for the same period a year earlier.

Ciena's GAAP net income for the fiscal third quarter 2022 was $10.5 million, or $0.07 per diluted common share, which compares to a GAAP net income of $238.2 million, or $1.52 per diluted common share, for the fiscal third quarter 2021. Ciena's GAAP net income for the fiscal third quarter of 2021 benefited from the recording $124.2 million tax benefit related to an internal transfer of non-U.S. intangible assets. Ciena's adjusted (non-GAAP) net income for the fiscal third quarter 2022 was $49.0 million, or $0.33 per diluted common share, which compares to an adjusted (non-GAAP) net income of $144.9 million, or $0.92 per diluted common share, for the fiscal third quarter 2021.

"Despite continued strong customer demand, our fiscal third quarter financial results were negatively impacted by late delivery and substantially lower-than-committed volume from a small number of suppliers for specific components that are essential for delivering finished goods to our customers," said Gary Smith, president and CEO of Ciena. "While these dynamics will continue in our fiscal fourth quarter, we expect improvement as we move into fiscal 2023, providing us increased ability to service this unprecedented demand and continue to gain market share.

Some highlights

• Two 10%-plus customers represented a total of 24.1% of revenue
• Non-telco represented approximately 38% of total revenue
• APAC region represented 15% of total revenue
• Routing and Switching revenue increased 45% YoY, in part reflecting strong contribution from the recently added Vyatta platform
• Platform Software and Services increased 11% YoY, representing 7% of total revenue
• Adjusted operating margin was 40.0% compared with 48.5% a year earlier.

https://investor.ciena.com

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ZTE's revenue rises 12.7% in 1H2022 to US$8.65 billion

ZTE reported operating revenue of RMB 59.82 billion (approximately US$8.65 billion) for the first half of 2022, 12.7% higher than a year earlier. Net profit reached RMB 4.57 billion, an increase of 12.0%, and net profit after extraordinary items attributable to holders of ordinary shares of the listed company amounted to RMB 3.73 billion, representing a year-on-year increase of 65.8%. Basic earnings per share was RMB 0.96. 

Despite the challenge of the pandemic, supply chain issues, and a complex external environment, the company operating revenue in both domestic and international markets and its three major businesses (carriers' networks, government and enterprise, and consumer business) all achieved double-digit increase year on year.

Highlights:

• For the domestic market (China), operating revenue reached RMB 40.60 billion, a year-on-year increase of 12.9%, accounting for 67.9% of the total operating revenue.
• For the international market, operating revenue amounted to RMB 19.22 billion, a year-on-year increase of 12.3%, covering 32.1% of the total operating revenue.
• In terms of carriers' networks, ZTE achieved an operating revenue of RMB 38.72 billion , an increase of 10.5%, compared with a year earlier. 
• ZTE has entered into 5G cooperation with over 110 operators across the globe.
• In terms of government and corporate business, ZTE’s operating revenue increased by 18.3% year on year to RMB 6.71 billion during the period. 
• In consumer business, revenue reach RMB 14.39 billion, a year-on-year increase of 16.5% in the first half of 2022. 
• R&D spending reached RMB 10.15 billion, accounting for 17.0% of its total operating revenue.

https://res-www.zte.com.cn/mediares/zte/Investor/20220826/E1.pdf

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Marvell sees supply constraints ease

Marvell Technology reported revenue for the second quarter of fiscal 2023 of $1.517 billion, consistent with the midpoint of the company's guidance provided on May 26, 2022. 

GAAP net income for the second quarter of fiscal 2023 was $4 million, or $0.01 per diluted share. Non-GAAP net income for the second quarter of fiscal 2023 was $486 million, or $0.57 per diluted share. Cash flow from operations for the second quarter was $331.5 million.

"In the second quarter of fiscal 2023, we delivered record revenue of $1.52 billion, which grew 41 percent year over year and 5 percent sequentially. This was the 9th straight quarter of sequential revenue growth, and we are guiding for growth to continue in the third quarter, as we expand our leadership in data infrastructure," said Matt Murphy, Marvell's President and CEO. "Looking ahead, we expect sequential revenue growth to accelerate in the fourth quarter as supply constraints begin to ease. We believe we are well positioned to continue to benefit from our favorable end market exposure tied to strong secular growth trends and significant expected upcoming revenue contributions from a number of Marvell-specific product ramps."

https://investor.marvell.com

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NVIDIA posts revenue or $6.7B, decline in gaming revenue

In what it described as a "challenging quarter" driven primarily by weaker gaming revenue, NVIDIA reported revenue of $6.70 billion for the second quarter ended July 31, 2022, up 3% from a year ago and down 19% from the previous quarter.

GAAP earnings per diluted share for the quarter were $0.26, down 72% from a year ago and down 59% from the previous quarter. Non-GAAP earnings per diluted share were $0.51, down 51% from a year ago and down 63% from the previous quarter.

NVIDIA said there was a steeper than expected decline in gaming revenue, which amounted to $2.04 billion, down 33% from a year ago and down 44% from the previous quarter. The company did not quantify the negative impact from crypto mining.

Data center revenue was $3.81 billion, up 61% from a year ago and up 1% from the previous quarter. 

Automotive revenue was $220 million, up 45% from a year ago and up 59% from the previous quarter.

“We are navigating our supply chain transitions in a challenging macro environment and we will get through this,” said Jensen Huang, founder and CEO of NVIDIA.

“Accelerated computing and AI, the pioneering work of our company, are transforming industries. Automotive is becoming a tech industry and is on track to be our next billion-dollar business. Advances in AI are driving our Data Center business while accelerating breakthroughs in fields from drug discovery to climate science to robotics.

“I look forward to next month’s GTC conference, where we will share new advances in RTX, as well as breakthroughs in AI and the metaverse, the next evolution of the internet. Join us,” he said.

During the second quarter of fiscal 2023, NVIDIA returned to shareholders $3.44 billion in share repurchases and cash dividends, following a return of $2.10 billion in the first quarter. The company has $11.93 billion remaining under its share repurchase authorization through December 2023. NVIDIA plans to continue share repurchases this fiscal year.

https://investor.nvidia.com/events-and-presentations/events-and-presentations/event-details/2022/NVIDIA-2nd-Quarter-FY23-Financial-Results/default.aspx

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Intel welcomes investment from Brookfield in Arizona fabs

Intel announced a cost-sharing partnership in which the infrastructure affiliate of Brookfield Asset Management, one of the largest global alternative asset managers, will provide Intel with a new, expanded pool of capital for manufacturing build-outs.

Intel describes its new Semiconductor Co-Investment Program (SCIP) as a new funding model that will accelerate its IDM 2.0 foundry strategy. The partnership with Brookfield is expected to enhance Intel's balance sheet.

Under the deal, the companies will jointly invest up to $30 billion in Intel’s previously announced manufacturing expansion at its Ocotillo campus in Chandler, Arizona, with Intel funding 51% and Brookfield funding 49% of the total project cost. Intel will retain majority ownership and operating control of the two new leading-edge chip factories in Chandler, which will support long-term demand for Intel’s products and provide capacity for Intel Foundry Services (IFS) customers. The transaction with Brookfield is expected to close by the end of 2022, subject to customary closing conditions.

“This landmark arrangement is an important step forward for Intel’s Smart Capital approach and builds on the momentum from the recent passage of the CHIPS Act in the U.S.,” said David Zinsner, Intel CFO. “Semiconductor manufacturing is among the most capital-intensive industries in the world, and Intel’s bold IDM 2.0 strategy demands a unique funding approach. Our agreement with Brookfield is a first for our industry, and we expect it will allow us to increase flexibility while maintaining capacity on our balance sheet to create a more distributed and resilient supply chain.”

Sam Pollock, CEO of Brookfield Infrastructure, said, “By combining Brookfield's access to large-scale capital with Intel’s industry leadership, we are furthering the advancement of leading semiconductor production capabilities. Leveraging our partnership experience in other industries, we are pleased to come together with Intel in this important investment that will form part of the long-term digital backbone of the global economy.”

In addition, Intel confirmed that it is continuing to work with governments in the U.S. and Europe to seek incentives for domestic manufacturing capacity for semiconductors. 

https://www.intc.com/news-events/press-releases/detail/1568/intel-advances-smart-capital-introduces-first-of-its-kind

Intel picks Germany for its next European fab 

Tuesday, March 15, 2022  Germany, Intel, Silicon  

Intel announced plans to invest an initial 17 billion euros into a leading-edge semiconductor fab mega-site in Magdeburg, Germany, the capital of Saxony-Anhalt.  Construction is expected to begin in the first half of 2023 and production planned to come online in 2027.The new facility will use Intel’s most advanced, Angstrom-era transistor technologies, serving the needs of both foundry customers and Intel for Europe and globally as part of the...

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Intel to acquire Tower Semi, expanding its foundry footprint

Tuesday, February 15, 2022  Intel, Israel, Mergers And Acquisitions, Semiconductor, Tower  

Intel agreed to acquire Tower Semiconductor for $53 per share in cash, representing a total enterprise value of approximately $5.4 billion. Tower Semiconductor, which is based in Migdal Haemek, Israel, offers expertise is in specialty technologies, such as radio frequency (RF), power, silicon-germanium (SiGe) and industrial sensors, extensive IP and electronic design automation (EDA) partnerships, and an established foundry footprint. It operates...

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IFS makes a splash: $1B fund, Arm & RISC-V support, Open Chiplet Platform 

Monday, February 07, 2022  Intel, Silicon  

The newly established Intel Foundry Services (IFS) announced several initiatives to accelerate its entrance into the semiconductor fabrication market: a $1 billion investment fund, support for Arm and RISC-V in addition to x86, and pioneering work with chiplet architecture based on 3D packaging technology.The new $1 billion investment fund has three aims:Equity investments in disruptive startups.Strategic investments to accelerate...

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Cisco reports revenue of $13.1B, record product orders

Citing strong demand with record full year product orders and backlog, Cisco reported fourth quarter total revenue of $13.1 billion, flat compared with a year earlier. GAAP operating income was $3.4 billion, down4%, with GAAP operating margin of 26.2%. Non-GAAP operating income was $4.2 billion, down 4%, with non-GAAP operating margin at 32.4%.

Revenue by geographic segment was: Americas down 3%, EMEA up 8%, and APJC down 2%. 

Product revenue performance was led by growth in End-to-End Security up 20%, Optimized Application Experiences up 8%, and Collaboration up 2%. Secure, Agile Networks was down 1% and Internet for the Future was down 10%.

On a GAAP basis, total gross margin, product gross margin, and service gross margin were 61.3%, 59.1%, and 67.5%, respectively, as compared with 63.6%, 62.7%, and 66.2%, respectively, in the fourth quarter of fiscal 2021.

"We had a strong end to our fiscal year thanks to our Q4 performance. Our teams executed well in the midst of an incredibly dynamic environment, resulting in the highest full year non-GAAP earnings per share in the history of the company," said Chuck Robbins, chair and CEO of Cisco. "Full year product orders and backlog are both at record highs and reflect the strong demand we continue to see for our innovation and the overall value we bring to our customers as they accelerate their digital transformation."

"Total revenue exceeded our expectations in Q4, as a result of our strong execution and the numerous initiatives we have taken to reduce the impact of the global supply situation," said Scott Herren, CFO of Cisco. "Our operational discipline is reflected in our healthy operating margin and strong cash flow generation, enabling us to return nearly $4 billion to our shareholders in Q4. And we continue to make good progress in our business model transformation with RPO of over $31 billion, which, coupled with our record backlog, provide us with substantial visibility and confidence in our future revenue."

For its full FY 2022 fiscal year, Cisco total revenue amounted to $51.6 billion, an increase of 3%. On a GAAP basis, net income was $11.8 billion, an increase of 12%, and EPS was $2.82, an increase of 13%. On a non-GAAP basis, net income was $14.1 billion, an increase of 3% compared to fiscal 2021, and EPS was $3.36,  an increase of 4%.

https://s2.q4cdn.com/951347115/files/doc_presentations/2022/08/Q4FY22-Cisco-Earnings-Slides.pdf

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Lumentum sees improving IC supply for telecom

Lumentum reported net revenue of $422.1 million for its fourth fiscal quarter, ended July 2, 2002, with GAAP net income attributable to common stockholders of $34.7 million, or $0.49 per diluted share. Net revenue for the fiscal third quarter of 2022 was $395.4 million, with GAAP net income of $26.0 million, or $0.35 per diluted share. Net revenue for the fiscal fourth quarter of 2021 was $392.1 million, with GAAP net income attributable to common stockholders of $21.5 million, or $0.28 per diluted share.

Non-GAAP net income for fiscal fourth quarter of 2022 was $105.0 million, or $1.47 per diluted share. Non-GAAP net income for fiscal third quarter of 2022 was $88.9 million, or $1.19 per diluted share. Non-GAAP net income for the fiscal fourth quarter of 2021 was $81.9 million, or $1.06 per diluted share.

"In fiscal 2022, we achieved record revenue in datacom EMLs, coherent components, pump lasers, tunable products, and sub-sea components, with company profitability above our target model of 50 percent gross margin and 30 percent operating margin. Fourth quarter revenue was above our midpoint, with both operating margin and earnings per share exceeding the top end of guidance. In addition, we are making meaningful progress in alleviating component shortages in our Telecom business," said Alan Lowe, President and CEO.

"On August 3rd, we completed our acquisition of NeoPhotonics, and yesterday we announced our purchase of IPG's telecom transmission product lines, both of which position us to create even more value for our cloud and networking customers. Our guidance for the first quarter and outlook for fiscal 2023 reflects the previously discussed share normalization in 3D sensing for smartphones. As we close a solid year and position the company for growth with these investments, we expect that the business fundamentals will drive a mix shift toward our Telecom, Datacom, and Commercial Lasers businesses, supporting double-digit revenue growth in fiscal 2023 and beyond," added Mr. Lowe.

https://s28.q4cdn.com/643688083/files/doc_financials/2022/q4/Q4-FY22-Earnings-Call-Final.pdf

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VIAVI hits revenue of $335.3 million, up 7.8% year-over-year

VIAVI reported net revenue of $335.3 million  for its fourth fiscal quarter ended July 2, 2022.. GAAP net income was $16.5 million, or $0.07 per share. Non-GAAP net income was $55.8 million, or $0.24 per share.

"I am pleased with VIAVI's performance in the fiscal year 2022. We generated record revenue, close to $1.3 billion, and record operating profit, exceeding our strategic plan goals that we set out three years ago before the pandemic, global supply chain issues, and inflationary pressures," said Oleg Khaykin, VIAVI's President and Chief Executive Officer.

Khaykin added, "I am also pleased with VIAVI's performance and momentum during the fiscal Q4 2022, resulting in record revenue and record fourth quarter profitability driven by Fiber-to-the-Home deployment, 400GbE network and data center upgrades, and the investments in O-RAN network expansions."

Americas, Asia-Pacific and EMEA customers represented 38.7%, 38.7% and 22.6%, respectively, of total net revenue for the quarter ended July 2, 2022.

As of July 2, 2022, the Company held $564.9 million in total cash, short-term restricted cash and short-term investments.

https://investor.viavisolutions.com/overview/default.aspx

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Airspan adds 60 Private 4G/5G networks in Q2

Airspan Networks reported revenue of $46.9 million for the second quarter ended June 30, 2022, up 25% sequentially from first quarter 2022, and up 12% year-over-year. Gross margin was 40.1% compared to 32.1% in first quarter 2022, and 45.7% in second quarter 2021. There was a net loss of $21.0 million, compared to a net loss of $29.7 million in first quarter 2022, and a net loss of $10.4 million for second quarter 2021.

“We continue to execute our growth plan and see healthy demand for our innovative products and solutions,” said Airspan Chairman and Chief Executive Officer Eric Stonestrom. “Furthermore, we are encouraged by concrete government action on the CHIPS Act, which currently allocates $1.5B for Open RAN technology development, an area of Airspan focus and differentiation. However, the supply chain environment continues to impact sales and margin as seen in the near-term outlook.”

“Four of our largest customers signed new purchase orders during the quarter. We continue to see growing demand in the core markets we serve, namely mobile networks, private networks and fixed wireless,” said Airspan President and Chief Operating Officer Glenn Laxdal.

Some highlights:

• Strong performance in a challenging supply chain environment.
• Continued momentum in private network deployments:
• Added over 60 Private 4G/5G Networks in second quarter 2022 bringing the total number of Private Networks design wins to more than 300.
• Signed Global Purchase Agreements with two additional web scale cloud providers.
• Signed agreement with a leading global Private Networks managed service provider.
• New milestone reached with a Tier 1 US Cable MSO with a Purchase Order in second quarter 2022, and a significant deployment throughout 2022.
• Airspan Networks Named Winner of Three Small Cell Forum Innovation Awards, Demonstrating Solution Scalability for Both Public and Private Networks. Fifth year in a row Airspan has been honored by the Forum (link).
• Demonstrated a fiber equivalent 4+ Gbps Fixed Wireless Access point to multi-point connection speed with one of Asia’s largest carriers and made substantial inroads with US Rural Digital Opportunity Fund recipients.

https://www.airspan.com

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Arm partners shipped 7.4 billion chips in latest quarter, up 7% yoy

Arm reported record revenue of $719 million for the first quarter of its fiscal 2022, up 6% year-over-year. Adjusted EBITDA was $414 million, up 31% year-over-year and with a 58% margin.

“Arm continues to enable our ecosystem with compute performance and efficiency leadership through a transformed strategy. Together, we are meeting the insatiable demand for compute and defining the future of computing that will power the next great technology revolutions on Arm,” states Rene Haas, CEO, Arm.

https://www.arm.com/company/news/2022/08/arm-achieves-record-revenue-and-shipments-in-q1-fy-2022

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Western Digital sees growth in HDDs for cloud players

Western Digital reported revenue of $4.53 billion for the fourth quarter of its fiscal 2022, down 8% year-over-year (YoY). Fourth quarter GAAP earnings per share (EPS) was $0.95 and Non-GAAP EPS was $1.78. 

Fiscal year 2022 revenue was $18.79 billion, up 11% YoY. Fiscal year 2022 GAAP EPS was $4.75 and non-GAAP EPS was $8.22.

For Q4:

• Cloud revenue increased 5%. Cloud represented 46% of total revenue. Within Cloud, the continued ramp of 18-terabyte and 20-terabyte drives drove a 7% year-over-year increase in nearline HDD revenue. In Flash, enterprise SSD revenue more than doubled sequentially and was up 38% year-over-year. There was strong demand from  cloud customers for the latest generation energy assisted drives driving a near record nearline shipment of 111 exabytes.
• Client revenue declined 14%. Client represented 36% of total revenue. On both a sequential and year-over-year basis, client HDD led the revenue decline while Flash was roughly flat.
• Consumer revenue declined 23% YoY. Consumer represented 18% of revenue. On a sequential basis, the revenue decline was primarily due to lower retail HDD shipments. The year-over-year decrease was due to broad-based decline in retail products across HDD and Flash.

"I am proud of our team for driving strong fiscal year 2022 performance, during which revenue grew 11% and non-GAAP EPS increased 81%, demonstrating progress in unlocking the earnings potential of our business,” said David Goeckeler, Western Digital CEO. “In addition to strong financial performance, fiscal year 2022 was a hallmark year for Western Digital from an innovation, product development and execution perspective. The combination of our innovation engine and the multiple channels to deliver our products to the market puts Western Digital in a great position to capitalize on the large and growing opportunities in storage ahead even in the midst of macro dynamics weighing on near-term demand.”

https://investor.wdc.com/static-files/7a02a646-b769-442b-885c-c62cf97ced6e

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AWS sales in Q2 reached $19.7 billion, up 33% yoy

In its Q2 earnings report, Amazon reported quarterly sales for AWS of $19.739 billion, up 33% yoy. AWS operating income amounted to $5.715 billion. AWS operating expenses amounted to $14.024 billion.

• Some customer wins for AWS in Q2
• Delta Air Lines selected AWS as preferred cloud provider to accelerate its digital business transformation and reimagine the travel experience. 
• Riot Games and AWS have teamed up to bring AWS’s data analytics integration to esports broadcasts for the first time, through Riot’s League of Legends, VALORANT, and League of Legends: Wild Rift esports leagues. AWS will also power Riot’s new cloud-first remote broadcast centers, which will support Riot’s current and future ambitions to reimagine entertainment experiences for billions of fans worldwide. 
• BT selected AWS as preferred cloud provider to transform legacy infrastructure and internal applications to a new cloud-first architecture.
• Investment banking firm Jefferies will migrate all its IT systems to AWS, including internal and customer-facing applications, IT resources, and companywide data.
• Health and wellness organization Geisinger selected AWS as its strategic cloud provider. Geisinger will migrate its entire digital portfolio of more than 400 applications and numerous workflows to AWS, which will enable lifesaving technologies and save Geisinger several million dollars annually. 
• Sweden-based SKF, the leading manufacturer of bearings, collaborated with AWS to launch a fully automated, condition-monitoring solution for industrial machine reliability and predictive maintenance. This helps manufacturers monitor equipment, detect anomalies, and avoid unexpected machine failures in their facilities. 
• Italian multinational energy company Eni worked with AWS to integrate its proprietary data platform XWARE with the built-for-the-cloud Open Subsurface Data Universe on AWS.

https://ir.aboutamazon.com/news-release/news-release-details/2022/Amazon.com-Announces-Second-Quarter-Results-fe1df2b70/default.aspx

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Infinera posts Q2 revenue of $358.0 million

Infinera reported Q2 2022 GAAP revenue of $358.0 million compared to $338.9 million in the first quarter of 2022 and $338.2 million in the second quarter of 2021.

GAAP gross margin for the quarter was 30.5% compared to 32.9% in the first quarter of 2022 and 35.6% in the second quarter of 2021. GAAP operating margin for the quarter was (11.1)% compared to (10.8)% in the first quarter of 2022 and (6.9)% in the second quarter of 2021.

GAAP net loss for the quarter was $(55.7) million, or $(0.26) per share, compared to $(41.9) million, or $(0.20) per share, in the first quarter of 2022, and $(35.6) million, or $(0.17) per share, in the second quarter of 2021. Non-GAAP net loss for the quarter was $(10.1) million, or $(0.05) per share, compared to net loss of $(14.0) million, or $(0.07) per share, in the first quarter of 2022, and $(6.0) million, or $(0.03) per share, in the second quarter of 2021.

Infinera CEO David Heard said, “Our second quarter results were encouraging in a challenging environment, with revenue beating the midpoint of our outlook range, non-GAAP operating margin at the upper end of the range, and non-GAAP gross margin near the midpoint of the range due to higher supply chain costs. Strong demand resulted in greater than 80% year-over-year growth in total backlog, which includes product backlog growth exceeding 100%, and a quarterly book-to-bill ratio above 1."

“We are executing well against our 8x4x1 strategy as we scale ICE6 globally, expand our metro footprint, and prepare to bring our pluggables business online, all while planning to deliver continued growth and margin expansion in the second half of 2022. The timing of our refreshed portfolio allows us to take advantage of the accelerated shift to open architectures and our customers’ growing requirement to bring on new vendors to improve their supply chain resilience.”

https://investors.infinera.com/overview/default.aspx

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Ekinops reports 1H22 revenue of €63.3 million, up 25% yoy

Ekinops reported consolidated revenue of €63.3 million for the first half of 2022, compared with €50.8 million in the previous year, representing robust growth of 25%. At constant scope and exchange rates, half-year growth was 20%. Gross margin was 52.9%, within the target range, despite the components crisis.

This trend is the result of solid momentum in all the Group's activities: +31% for optical transport equipment, +21% for Access solutions and +47% for software and services, which now represent 15% of the group's revenue as a result of the success of SDN (Software Defined Networks) and virtualization solutions.

In geographic terms, half-year sales grew significantly by 48% in North America (33% in USD), reaching 20% of the group's business for the first time. Asia-Pacific continued on the growth trajectory that began in H2 2021 with a very sustained 80% increase in half-year sales. Sales in EMEA, in which 38% of the group's activity is generated, grew 6% compared with the same period in the previous year. After a first quarter in which activity in France remained virtually stable, the group's sales returned to steady growth of 29% in the semester.

https://www.ekinops.com/news/corporate/ekinops-delivers-ebitda-margin-at-17-0-and-25-revenue-growth-in-h1-2022-raises-guidance-for-2022-revenue

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Juniper beats forecast with revenues of $1.27 billion, up 8% yoy

Juniper Networks reported Q2 2022 ret revenues of $1,269.6 million, an increase of 8% year-over-year and an increase of 9% sequentially. GAAP operating margin was 8.5%, an increase from 7.3% in the second quarter of 2021, and an increase from 5.0% in the first quarter of 2022.

GAAP net income was $113.4 million, an increase of 83% year-over-year, and an increase of 104% sequentially, resulting in diluted net income per share of $0.35. Non-GAAP net income was $136.4 million, a decrease of 3% year-over-year, and an increase of 34% sequentially, resulting in non-GAAP diluted net income per share of $0.42.

“We exceeded our revenue forecast during the June quarter and delivered a second consecutive quarter of double-digit year-over-year product revenue growth,” said Juniper’s CEO, Rami Rahim. “Demand signals remain healthy and we are seeing attractive opportunities across our enterprise, cloud and service provider markets. Based on this momentum, the backlog we have built, and our latest expectations regarding supply, I am increasingly optimistic regarding our revenue growth prospects for the year.”

“Our teams executed well against the backdrop of an extremely challenged supply chain environment in the June quarter,” said Juniper’s CFO, Ken Miller. “We have taken actions to improve delivery of our products to customers. While some of these actions are likely to impact profitability over the next few quarters, they are enabling us to better meet customer demand, which should have positive long-term implications for our business. We remain focused on driving improved profitability and expect margins to improve in 2023.”

Juniper also noted ongoing supply chain challenges, which have resulted in extended lead times, as well as elevated logistics and component costs. 

For the third quarter, Juniper expects to see solid revenue growth driven by the strength of ots backlog, strong demand and an improved supply outlook. 

https://newsroom.juniper.net/news/news-details/2022/Juniper-Networks-Reports-Preliminary-Second-Quarter-2022-Financial-Results/default.aspx

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