Ciena (CIEN) Q1 Earnings Top Estimates, Revenues Decline Y/Y

Ciena Corporation (CIEN) reported first-quarter fiscal 2024 (ended Jan 27) results, wherein its adjusted earnings per share (EPS) of 66 cents beat the Zacks Consensus Estimate of 47 cents. Earnings improved 3.1% year over year.Quarterly total revenues were down 1.8% year over year to $1,037.7 million. The downtick was driven by the macroeconomic concerns that are causing lower-than-expected order volumes from service providers in several overseas geographies. However, the top line surpassed the Zacks Consen ...