Ciena Clocks 26 Percent Revenue Growth in Q4, Beats Consensus; Plans Share Buyback up to $1 Billion

A digital board on the floor of the New York Stock Exchange (NYSE) shows the closing numbers near the end of the day in New York City on Dec. 02, 2021. Spencer Platt/Getty Images

Ciena Corp (CIEN) reported fourth-quarter FY21 revenue growth of 25.7 percent year-on-year to $1.04 billion, beating the consensus of $1.03 billion.

Segments

Total Networking Platforms revenue rose by 30.5 percent Y/Y to $828.8 million, and Total Global Services increased 7.6 percent Y/Y to $126.8 million.

Margins

The adjusted gross margin contracted 320 bps to 46.3 percent as costs surged 33.1 percent Y/Y.

The adjusted operating margin expanded 100 bps to 16.8 percent as operating costs rose 9.3 percent Y/Y.