Earlier this morning, optical telecommunications equipment maker Ciena reported 2020Q2 results. In spite of Covid-19, results were in line with expectations: Revenue of $894.1 million, increasing 3.4% year over year, Net Income per share of $0.59 GAAP; $0.76 adjusted (non-GAAP).
“In this uncertain environment, we delivered industry leading financial performance during our second quarter, including strong revenue and outstanding profitability,” said Gary Smith, President and CEO, Ciena. “Our strategy, centered around innovation, diversification and global scale, has resulted in a resilient business capable of navigating challenging times and delivering strong shareholder value over the long-term.”
In the Americas, Sales were up by 5.7% Q2 YoY, and up by 23.0% in Europe, Middle East and Africa. But they were offset by a 23.9% drop in Asia Pacific.
Overall the results came in line with expectation. The stock was down slightly by 2.26% at the time of writing of this article.
For more details on the announcement, see https://investor.ciena.com/news/press-release-details/2020/Ciena-Reports-Fiscal-Second-Quarter-2020-Financial-Results/default.aspx