Ciena (CIEN) is set to release its Q4 2024 earnings on December 12th. Analysts predict an EPS of $0.65, but the post-earnings share price reaction will likely hinge more on the company’s guidance than the EPS result itself. This article analyzes Ciena’s past performance, compares it to industry peers, and explores what investors should watch for.
Several top Wall Street analysts have recently downgraded their ratings on a handful of prominent companies, sending ripples through the market. This article highlights the key downgrades and the reasoning behind them, providing insights into potential market shifts. Investors are urged to carefully consider these developments and adjust their portfolios accordingly.
The artificial intelligence (AI) revolution is surging forward in 2024, and legacy technologies like cloud computing are benefiting from this surge. Two companies, Ciena and NetApp, are well-positioned to capitalize on this growing demand. Ciena, known for its optical fiber and networking solutions, is crucial for building out the internet infrastructure required for AI’s rapid data transfer needs. NetApp, a hybrid cloud and data infrastructure provider, is helping businesses manage and access their data securely across various environments. Both companies are experiencing strong growth, with Ciena seeing significant demand from cloud providers and NetApp winning numerous contracts for AI and data lake modernization.
Ciena Corp reported a decline in revenue for the third quarter of fiscal 2024, but beat analysts’ expectations for both revenue and earnings per share. The company highlighted growing momentum with cloud providers and a gradual recovery with service providers. Ciena also announced that its CFO will retire in 12 months.
Ciena and Arelion have successfully transmitted data at a record-breaking 1.6 Tb/s in a live network field trial, utilizing Ciena’s advanced WaveLogic 6 Extreme technology. This achievement significantly boosts capacity between key points in Arelion’s North American network, paving the way for faster connectivity and increased bandwidth for businesses and service providers.
Bhutan Telecom has deployed Ciena’s coherent routing solutions to enhance its network performance and meet growing traffic demands. This upgrade supports the country’s digital transformation and ensures connectivity for its citizens and tourists. Meanwhile, Ciena faces challenges due to slower-than-expected order volume recovery and global macroeconomic volatility.
