Ciena Corp (NYSE:CIEN) reported a first-quarter fiscal 2024 revenue decline of 1.8% year-on-year to $1.04 billion, beating the consensus estimate of $1.02 billion.
The American telecommunications networking equipment and software services supplier reported an adjusted EPS of $0.66, beating the consensus of $0.48. The stock price plunged after the results.
Segments: Total Networking Platforms revenue declined by 5.6% Y/Y to $807.2 million, and Total Global Services increased by 12.6% Y/Y to $126.8 million.
Margins: The adjusted gross margin expanded by 200 bps to …