CIEN beats by 24 cents, but warns of pressure.

from marketwatch:

Ciena beats FQ3 estimates, warns of continuing pandemic pressure; shares -8%

Sep. 3, 2020 7:23 AM ET|About: Ciena Corporation (CIEN)|By: Brandy Betz, SA News Editor 

 

Ciena (NYSE:CIEN) shares slip 8.4% pre-market as cautious management comments outweigh the beats on the top and bottom lines.

"Although COVID-related market dynamics have resulted in an orders slowdown and are likely to adversely impact our revenue for a few quarters, we are confident in our ability to continue executing on our strategy and expanding our market leadership," says CEO Gary Smith.

In fiscal Q3, Ciena's revenue was up 2% Y/Y to $976.7M with $1.06 EPs.

Segment revenue breakdown: Networking Platforms, $802.3M (consensus: $798.7M); Software and Related Services, $57.7M (consensus: $62.8M); Global Services, $116.7M (consensus: $124.5M).

Gross margin topped both consensus and guidance at 48.2%. Operating margin was 22.4%, compared to 16.2% in last year's quarter.

Adjusted EBITDA was up 35% to $241.1M.