By Connor Hart
Ciena swung to a profit and posted higher sales in its fiscal second quarter, as continued investments in cloud and artificial intelligence accelerated demand.
The networking-systems and software company on Thursday posted a profit of $9 million, or 6 cents a share, for its quarter ended May 3, compared with a loss of $16.8 million, or 12 cents a share, in last year's comparable quarter.
Adjusted per-share earnings came in at 42 cents, missing the 52 cents that analysts surveyed by FactSet expected.
Revenue jumped 24% to $1.13 billion. Wall Street modeled sales of $1.09 billion.
Networking platforms, the segment which accounts for nearly three-fourths of all revenue, notched sales of $866.3 million, up 28% from a year earlier. Revenue from the company's global services unit rose 8.5% to $146.2 million.
Chief Executive Gary Smith said the company saw growing momentum across all its business segments in the recent quarter.
"With accelerating demand driven by cloud and AI, our performance is validating the durability of a positive network infrastructure spending environment," he said. "As a result, we have strong visibility and are very confident in both our continued growth and our ability to drive additional operating leverage over time."
Shares fell 5.5%, to $79.25, in pre-market trading.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
June 05, 2025 07:32 ET (11:32 GMT)
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