- Ciena Corp (NYSE: CIEN) reported a second-quarter FY21 revenue decline of 6.7% year-on-year to $833.9 million, beating the analyst consensus of $829.3 million.
- Product revenue declined 9.4% Y/Y to $670 million, while Services revenue grew 6.3% Y/Y to $163.9 million.
- Total Networking Platform revenue declined 11.3% Y/Y to $637.3 million, and Platform Software and Services revenue rose 26% Y/Y to $56.7 million.
- Blue Planet Automation Software and Services revenue rose 59.3% Y/Y to $23.9 million. Total Global Services revenue remained flat at $116 million.
- Adjusted gross margin expanded 230 basis points to 49.2%, while the adjusted operating margin contracted 210 basis points to 15.8%.
- Adjusted EPS of $0.62 beat the analyst consensus of $0.48.
- Ciena generated $217.7 million in operating cash flow and held $1.2 billion in cash and equivalents.
- The company bought back stock worth $26.2 million during the quarter.
- Price action: CIEN shares traded higher by 5.31% at $57.30 in the premarket session on the last check Thursday.
Atlas Air Inks Long-Term Extension Of Agreement With DB Schenker
Atlas Air Worldwide Holdings, Inc. (NASDAQ:AAWW), through its subsidiary Atlas Air, Inc., extended its partnership with Schenker Flight Services GmbH (DB…
