Ciena reaffirms 2023 outlook and previous demand statements

Ciena announced that it is reaffirming guidance for its fiscal Q2 and full year 2023. In addition, the company is reaffirming its previous statements with respect to both the demand environment and the normalization of backlog and inventory dynamics. On March 6, Ciena provided its business outlook for Q2, including revenue of $1.035B to $1.115B, adjusted gross margin of low 40s%, and adjusted operating expense of approximately $335M. In addition, Ciena provided its fiscal 2023 outlook, including revenue growth of 20% to 22%, adjusted gross margin of 42% to 44%, and adjusted operating expense of approximately $330M per quarter for the remainder of the fiscal year.