Earlier this morning, optical networking equipment manufacturer Ciena Corp. announced strong 2020Q1 financial results.
Q1 Revenues were $832.9 million, increasing 7.0% year over year. Q1 GAAP Net Income per share was $0.40, almost doubling from $0.21 for the YoY period.
Interestingly, the America’s region led the way with a revenue increase of 11.2% YoY.
“We began fiscal 2020 with another quarter of outstanding financial performance, including 7% year-over-year revenue growth and robust operating results,” said Gary Smith, President and CEO, Ciena. “We are well-positioned to continue gaining share by leveraging our financial strength, global scale, diversification and increasing technology leadership.”
This morning, at the time of writing of this article, Ciena shares were up 3.75%, in spite of the 2.2% sell-off in the S&P 500 index.
For more details, see Ciena’s Press Release: https://investor.ciena.com/news/press-release-details/2020/Ciena-Reports-Fiscal-First-Quarter-2020-Financial-Results/default.aspx