Ciena Q2 revenue falls 19.6% YoY to $910.8M; posts GAAP loss of $0.12/share

CIENA CORP

2024-Q2 EPS reported $0.22 revenue$1,948,535,000

Revenue of $910.8M down 19.6% YoY from $1.13B; GAAP net loss of $16.8M vs. income of $57.7M last year.
Adjusted EPS of $0.27 down 64% from $0.74 a year ago; adjusted operating margin 6.8% vs. 13.8%.
Optical Networking revenue $560.2M (61.5% of total), down from $784.5M in Q2 2023 (69.3%).
Repurchased 1.1M shares for $57M during quarter; cash from operations $58.5M; cash & investments $1.42B.
Management cites service providers working through inventory amid strong bandwidth demand.

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