Ciena Corporation has announced its unaudited financial results for fiscal second quarter ended April 29, 2023. The revenue during the reported quarter stood at $1.13 billion, as compared to $949.2 million in the corresponding quarter last year, a year-on-year (YoY) growth of 19.3 per cent. The GAAP net income for the fiscal second quarter 2023 was $57.7 million, or $0.38 per diluted common share, which compares to a GAAP net income of $38.9 million, or $0.25 per diluted common share, for the fiscal second quarter 2022.
Meanwhile, Ciena’s adjusted (non-GAAP) net income for the fiscal second quarter 2023 was $110.4 million, or $0.74 per diluted common share, which compares to an adjusted (non-GAAP) net income of $76.4 million, or $0.50 per diluted common share, for the fiscal second quarter 2022. The adjusted earnings before interest, taxes, depreciation, and amortisation (EBITDA) was $180.6 million during the quarter, up 39.7 per cent from $129.3 million during the same quarter last year.
The networking platforms segment, which includes converged packet optical and routing and switching, accounted for the highest share of the revenue. The total revenue from the segment was $914.9 million, constituting 80.8 per cent of the total revenue during the quarter.
Commenting on the results, Gary Smith, president and chief executive officer, Ciena, said, “We delivered outstanding results for the fiscal second quarter as we were able to ship more to customers with continued improvements in supply chain dynamics. We are confident in our ability to take market share given our backlog and strategic industry position with market-leading technologies and an expanding addressable market.”
