Ciena Corporation reported $1.12 billion in revenue for its fiscal fourth quarter ending November 2, 2024, marking a slight decrease from $1.13 billion in Q4 2023. For the fiscal year, revenue totaled $4.01 billion, down from $4.39 billion in 2023. GAAP net income for Q4 was $37 million ($0.25 per share), compared to $91.2 million ($0.62 per share) in the same quarter last year. Adjusted net income came in at $79.3 million ($0.54 per share), lower than Q4 2023’s $111.2 million ($0.75 per share).
Optical Networking, Ciena’s largest revenue segment, generated $779.6 million in Q4, up 4% year-over-year. Routing and Switching revenue declined significantly, falling 38% to $79.4 million. The Global Services segment, which includes maintenance and consulting, contributed $142 million, down from $150.5 million in Q4 2023. Over the fiscal year, Ciena repurchased 2.1 million shares of its stock, valued at $132 million, demonstrating a commitment to returning capital to shareholders.
Gary Smith, president and CEO of Ciena, noted the company’s positioning amid increasing bandwidth demand driven by cloud and AI applications. “Our Q4 revenue and strong order flow reflect our ability to address these dynamic market trends,” Smith said. “As Cloud and AI drive bandwidth demand across the network, we are positioned for accelerated revenue growth and market share expansion moving forward.”
• Q4 revenue: $1.12 billion (-0.4% YoY).
• Fiscal year revenue: $4.01 billion (-8.9% YoY).
• GAAP net income (Q4): $37 million ($0.25 per share).
• Adjusted net income (Q4): $79.3 million ($0.54 per share).
• Optical Networking revenue: $779.6 million (+4% YoY).
• Routing and Switching revenue: $79.4 million (-38% YoY).
• Stock repurchases: 2.1 million shares, $132 million in Q4.
Americas Growth: The Americas region drove growth in Q4 2024, with revenue increasing by 6.3% year-over-year to $852.2 million, accounting for 75.8% of total revenue compared to 71% in Q4 2023.
• EMEA Decline: Revenue from Europe, the Middle East, and Africa (EMEA) decreased 8.2% year-over-year to $150.7 million in Q4, representing 13.4% of total revenue, down from 14.5% in Q4 2023.
• Asia-Pacific Weakness: The Asia-Pacific region experienced a significant revenue drop of 26.1% year-over-year in Q4 to $121.2 million, contributing 10.8% of total revenue compared to 14.5% in Q4 2023.
