The fourth-quarter 2023 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.
Jan. 10
Ekinops
www.ekinops.com
Ekinops continued to see a tale of two perspectives in the fourth quarter as its gains in optical and software came as economic headwinds affected its access equipment segment.
- see our coverage
Jan. 23
Verizon
www.verizon.com
Verizon Business revenue was $7.6 billion in the fourth quarter of 2023, down 3.6 percent year over year as lower wireline and wireless equipment revenue was partially offset by higher wireless service revenue
- see Lightwave’s coverage
- see BTR's coverage
Jan. 24
AT&T
www.att.com
AT&T reported that Business Wireline revenues were $5.1 billion, down 10.3% year over year due to lower demand for legacy voice and data services and product simplification, partly offset by growth in connectivity services.
- see our coverage
- here's BTR's coverage
Jan. 25
Comcast Business
www.comcast.com
Comcast Business’ ongoing efforts to beef up its security services for small and medium-sized businesses are paying off, driving its fourth-quarter revenues by 6% to $2.4 billion.
- see our coverage
- here’s BTR’s coverage
Nokia
www.nokia.com
Nokia reported that fourth-quarter sales declined 21% y-o-y in constant currency (-23% reported) in Q4 as macroeconomic uncertainty continues to pressure operator spending.
- see the earnings release
Jan. 30
Corning
www.corning.com
Corning reported that fourth-quarter Optical Communications sales were $903 million, down 2% sequentially, which the company said reflects temporarily lower demand from carrier customers as they continue to draw down inventory.
- see our coverage
Feb. 2
Charter
www.spectrum.com
Charter reported that commercial revenue increased by 0.9% year-over-year to $1.8 billion, driven by enterprise revenue growth of 3.8% year-over-year, partly offset by a SMB revenue decrease of 0.9%.
- see Lightwave’s coverage
- here’s BTR’s coverage
Feb. 6
Lumen
www.lumen.com
Lumen reports that, throughout 2023, it grew its fiber network by more than 500,000 locations and obtained a Q4 Net Promoter Score of 64% for the company’s Quantum Fiber service.
- here’s BTR’s coverage
- see Lightwave's coverage
Feb. 8
Lumentum
www.lumentum.com
Lumentum reported that due data center demand, its cloud and networking revenue momentum continued into the second quarter of its fiscal year 2024. Still, it went down due to slow telecom network product sales.
- see Lightwave’s coverage
Feb. 14
Cisco
www.cisco.com
Cisco announced during its earnings call that it will reduce 5% of its workforce, translating into over 4,000 positions when its enterprise and service provider customers are being more cautious about spending and correcting the inventory created during the COVID-19 pandemic.
- see Lightwave’s coverage
Ribbon Communications
www.ribboncommunications.com
Ribbon reported fourth quarter 2023 as its strongest quarter of the year and its most profitable quarter in nearly three years.
- see Lightwave's coverage
Equinix
www.equinix.com
Equinix saw a record number of data center leases but struggled with increased MMR churn during the fourth quarter.
- here’s Lightwave’s coverage
Feb. 23
Frontier
www.frontier.com
Driven by declines in fiber and copper, Frontier reported that fourth-quarter Business and Wholesale revenue was $635 million, down 3.6% year-over-year. However, Nick Jeffery, Frontier’s president and CEO expects the business/wholesale unit to grow in the first quarter.
- see Lightwave’s coverage
- here’s BTR’s coverage
Feb. 26
Adtran
www.adtran.com
Adtran reported fourth-quarter revenue was $225.5 million, down 37% year-over-year and 17% quarter-over-quarter.
- see BTR's coverage
March. 6
Infinera
www.infinera.com
Infinera expects a slow start to 2024 due to, among other things, first quarter customers digesting excess inventory. It reported revenue between $320 million and $350 million.
- see Lightwave’s coverage
March. 7
Ciena
www.ciena.com
Due to slower carrier spending, Ciena reported revenue of $1.04 billion for the fiscal first quarter of 2024, down from $1.06 billion for the fiscal first quarter of 2023.
- see Lightwave’s coverage