Ciena Beats Q2 Estimates, Issues Weak Guidance; Shares Down 8.6%

8/31/17

Ciena (NASDAQ:CIEN) shares are down 8.6% premarket after reporting Q3 earnings with narrow EPS and revenue beats. The Q4 guidance came in under consensus with revenue expected from $720M to $750M compared to the $770.3M analyst estimate. Gross margin expected in the mid-40s percentage range and operating expenses at $240M.

Segment revenue: Networking Platforms, $592.3M (+10%); Software and Software-Related Services, $42.3M (+34%); Global Services, (-4%).

U.S. customers contributed 60.1% of overall revenue and two customers each accounted for more than 10% of revenue.

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