From AT&T to Ciena: Tracking optical earnings in Q1 2024

April 23, 2024
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.

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 Lightwave’s coverage

- 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

Shentel
www.shentel.com
While Shentel has carved out a growth path for commercial fiber revenue, the service provider’s first quarter results reflected the near-term headwind of T-Mobile shutting down the former Sprint network.
- see Lightwave’s coverage
- see BTR’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

Cogent reported that first-quarter service revenue was $266.2 million, down from $272.1 million for the fourth quarter of 2023.
- see Lightwave’s coverage

May 14 

Infinera
www.infinera.com
Infinera reported first-quarter revenues were $307 million, down 22% on a year-over-year basis.
- here’s Lightwave’s coverage

May 15

Cisco
www.cisco.com
Cisco reported that fiscal third-quarter earnings call that total revenue for the quarter was $12.7 billion, down 13% year-over-year.
- see Lightwave’s coverage

June 6 

Ciena
www.ciena.com

 

 

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