Telecommunications

Ciena(NYSE:CIEN) Q1 2023 Revenue of $1.06 billion,up 25.1% year-over-year

March 6, 2023 — Ciena Corporation (NYSE: CIEN), a networking systems, services and software company, today announced unaudited financial results for its fiscal first quarter ended January 28, 2023. Ciena Corporation (NYSE: CIEN) reported fiscal Q1 adjusted earnings  of $0.64 per diluted share, Analysts polled by Capital IQ expected $0.36. Revenue for the quarter ended Jan. 28 was $1.06 billion, Analysts surveyed by Capital IQ expected $959 million. For fiscal first quarter 2023 Revenue: $1.06 billion,up 25.1% year-over-year,Net Income per Share: $0.51 GAAP; $0.64 adjusted (non-GAAP)。 For fiscal first quarter 2023, Ciena reported revenue of $1.06 billion as compared to $844.4 million for the fiscal first quarter 2022. Ciena’s GAAP net income for the fiscal first quarter 2023 was $76.2 million, or $0.51 per diluted common share, which compares to a GAAP net income of $45.8 million, or $0.29 per diluted common share, for the fiscal first quarter 2022. Ciena’s adjusted

Ciena(NYSE:CIEN) Q1 2023 Revenue of $1.06 billion,up 25.1% year-over-year Read Post »

Wells Fargo raised Cisco Systems(NASDAQ: CSCO) price target to $57 from $52

Wells Fargo analyst Aaron Rakers raised Cisco Systems(NASDAQ: CSCO) price target to $57 from $52 and maintained a “hold on the sidelines” rating. The investment bank said Cisco reported solid results and better-than-expected guidance due to a reduction in backlog despite improved supply.

Wells Fargo raised Cisco Systems(NASDAQ: CSCO) price target to $57 from $52 Read Post »

JPMorgan raised Cisco Systems(NASDAQ: CSCO) price target to $55 from $54

JPMorgan analyst Samik Chatterjee raised his price target on Cisco Systems(NASDAQ: CSCO) to $55 from $54 and maintained a “neutral” rating. The analyst told investors in a research note that the magnitude of the growth in fiscal second-quarter results and the outlook for 2023 raise questions about the sustainability of Cisco’s growth. But the agency said expectations for peak revenue and profit growth in fiscal 2023, which the analyst expects unlikely to recur, justify attributing lower than historical average P/E ratios to lower earnings expectations.

JPMorgan raised Cisco Systems(NASDAQ: CSCO) price target to $55 from $54 Read Post »

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