News Summary:
Ciena reported Q3 2026 revenue of US$1671.13 million and net income of US$266.42 million. The company raised its full-year revenue guidance to approximately US$6.42 billion, outlined Q4 2026 revenue expectations, and updated progress on its share buyback program. Concurrently, Ciena held an Investor Forum to establish three-year financial targets through 2029. Previously, Morgan Stanley increased its price target for Ciena to $450, following the company's strong Q1 performance, which included a 37% revenue jump, and its set target of 30% growth through 2029. Earlier, at its Investor Forum held at the company's R&D facility in Ottawa, Ciena formally announced its three-year financial targets, aiming for a revenue compound annual growth rate (CAGR) of approximately 30% from fiscal year 2026 through 2029. This projected growth reflects anticipated demand, expanded supply capacity, and new addressable market opportunities. The company also disclosed that it will change its financial reporting structure, effective from the start of its 2027 fiscal calendar, to encompass five distinct operating segments: Optical Systems, Interconnects, Global Services, Routing, and Other.
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