Ciena (NYSE: CIEN) reported Q4 EPS of $0.61, $0.53 better than the analyst estimate of $0.08. Revenue for the quarter came in at $971 million versus the consensus estimate of $846.92 million.

• "Our strong fiscal fourth quarter financial results were better than expected as we benefited from some favorable supply chain developments in the second half of the quarter," said Gary Smith, president and CEO of Ciena. "Looking ahead, we expect to deliver outsized revenue growth in fiscal 2023 given our significant backlog and continued signs of gradual supply improvement. And, we remain confident that the durability of secular demand drivers and our strategic investments to expand our addressable market position us to deliver strong revenue growth over the next several years."

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