By Denny Jacob
Ciena posted a decline in revenue and net income in its latest quarter.
The networking-systems and software company logged net income of $37 million, or 25 cents a share, for the fourth quarter ended Nov. 2, down from $91.2 million, or 62 cents a share, a year earlier.
Stripping out one-time items, earrings came in at 54 cents a share, below analysts' estimates of 60 cents a share.
Revenue edged down to $1.12 billion from $1.13 billion. Analysts polled by FactSet expected $1.1 billion.
Networking platforms, the segment which accounts for nearly three-fourths of all revenue, saw its revenue rise more than 4% to $779.6 million from $748 million.
"As cloud and AI drive bandwidth demand across the network, we are positioned for accelerated revenue growth and market share expansion moving forward," said Chief Executive Gary Smith.
Write to Denny Jacob at denny.jacob@wsj.com
(END) Dow Jones Newswires
December 12, 2024 07:26 ET (12:26 GMT)
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