The first-quarter 2024 earnings reporting season has begun, and Lightwave is tracking how key players in the optical networking industry performed. Please check here for updates on service providers, vendors and integrators in this segment.
Also, our colleagues at Broadband Technology Report are tracking the fourth-quarter results of the major players in the broadband industry.
April 16
Ekinops
www.ekinops.com
Ekinops continued to weather challenging economic conditions in the first quarter of 2024 as revenue declined to $30.3 million.
-see our coverage
April 23
Verizon
www.verizon.com
Verizon Business reported revenue was $7.4 billion in the first quarter of 2024, down 1.6 percent year over year. Increases in wireless service revenue were more than offset by decreases in wireline and wireless equipment revenue.
- see our coverage
- here’s BTR’s coverage
April 24
AT&T
www.att.com
AT&T reported that Business Wireline revenues declined 7.8% year over year to $4.9 billion, primarily due to lower demand for legacy voice and data services as well as product simplification, partially offset by growth in connectivity services and non-recurring equipment revenues.
- here’s Lightwave’s coverage
- see BTR’s coverage
Ribbon Communications
www.ribboncommunications.com
Ribbon Communications reported generated $180 million in revenues, a decrease of 3.5% from the previous year. The company saw growth in cloud and IP Optical networks.
- here’s Lightwave’s coverage
April 25
Comcast Business
www.comcast.com
Comcast's first-quarter Business Services Connectivity revenue grew 5% to $5.1 billion, up from $2.3 billion in the same period last year.
- here’s Lightwave’s coverage
April 26
Charter
www.charter.com
Driven by 6.9% year-over-year enterprise PSU growth, Charter’s Spectrum Business enterprise revenue grew 3.8% year-over-year to $708 million.
- see Lightwave’s coverage
April 30
Corning
www.corning.com
Corning continued to battle service provider revenue headwinds in the first quarter, reporting Optical Communications sales of $930 million, down 17% year over year.
- see Lightwave’s coverage
Lumen
www.lumen.com
Lumen reported total Revenue was $3.29 billion for the first quarter 2024, down from $3.738 billion for the first quarter 2023.
- see BTR’s coverage
May 3
Frontier
www.frontier.com
Frontier reported that Q1 fiber service growth comes amidst customers transitioning away from copper-based data and voice services.
- see Lightwave’s coverage
Lumentum
www.lumentum.com
Driven by what Lumentum said is strong data center demand and the contribution from the Cloud Light acquisition, cloud networking revenue grew 9% sequentially and 7% year-over-year.
- see Lightwave’s coverage
May 6
Adtran
www.adtran.com
Adtran reported that the company’s first-quarter revenues—$226.2 million—were just above the midpoint of the guidance range.
- here’s Lightwave’s coverage
May 9
Cogent Communications
www.cogentco.com
May 14
Infinera
www.infinera.com
Cisco
www.cisco.com
June 6
Ciena
www.ciena.com