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Shares of Ciena Corporation (NYSE: CIEN) are rising on Wednesday afternoon, as the company prepares to announce its second quarter financial results, before the market opens on Thursday.
While the company guided a 7.1 percent increase in revenue, from $560.1 million reported a year ago to $600 million for this quarter, the Street and the crowd are more optimistic.
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According to Estimize, experts are modeling consensus earnings of $0.24 per share (versus $0.17 per share in the same quarter last year) on revenue of $605.92 million. Main Street is projecting earnings in line with Wall Street, but anticipates higher sales – of $608.33 million.
It should be noted from the chart above that, despite a couple of misses, Ciena has usually managed to beat earnings estimates.
Another interesting chart to look at is the one that features the evolution of estimates over time. As it can be seen, consensus for both the crowd and the Street have been increasing as earnings loomed.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.