Ciena Corporation (CIEN) Releases Q4 2025 Earnings: Revenue Beat but Operating Profit Plunges and Big EPS Miss

Ciena Corporation (CIEN) — Q4 2025 Results

$1.35 billion in total revenue, up 20.3% year‑over‑year and above the consensus estimate of $1.31 billion.

Gross profit of $577.2 million, increased 25.5% year‑over‑year while cost of sales was $774.8 million, up 16.7%.

Operating profit fell sharply to $10.5 million, down 82.3% year‑over‑year, and net income attributable to common shareholders was $19.5 million, down 47.4%.

Diluted earnings per share were $0.13, a 50.0% decline versus the prior year and well below the estimate of $0.78.

Operating cash flow improved to $371.1 million (up 6.2% YoY); capital spending declined to -$45.4 million (down 45.6% YoY).

Cash and cash equivalents totaled $1.09 billion (up 16.8%); total liabilities were $3.14 billion (up 11.0%).

The quarter shows a mixed picture: revenue and gross profit grew strongly and revenue beat expectations, but profitability at the operating and net levels contracted materially. The large drop in operating profit despite rising gross profit points to higher operating expenses or other charges that eroded the bottom line.

Key takeaway: revenue strength and improved cash balances are positives for CIEN, while the sharp decline in operating profit and the sizeable miss on EPS are near‑term concerns for investors.

Ciena Corporation Insider Trading Activity

Ciena Corporation insiders have traded $CIEN stock on the open market 36 times in the past 6 months. Of those trades, 0 have been purchases and 36 have been sales.

Here’s a breakdown of recent trading of $CIEN stock by insiders over the last 6 months:

GARY B SMITH (President, CEO) has made 0 purchases and 12 sales selling 81,600 shares for an estimated $10,593,718.
DAVID M ROTHENSTEIN (SVP and Chief Strategy Officer) has made 0 purchases and 6 sales selling 15,000 shares for an estimated $1,852,203.
BRUCE L. CLAFLIN sold 8,461 shares for an estimated $1,185,555
DINO DIPERNA (SVP Global R&D) has made 0 purchases and 6 sales selling 3,950 shares for an estimated $658,482.
JOSEPH CUMELLO (SVP, General Mgr. Blue Planet) has made 0 purchases and 2 sales selling 3,907 shares for an estimated $429,802.
SHEELA KOSARAJU (SVP and General Counsel) has made 0 purchases and 2 sales selling 3,495 shares for an estimated $391,268.
BRODIE GAGE (SVP Global Products & Supply) has made 0 purchases and 6 sales selling 1,861 shares for an estimated $212,793.
JASON PHIPPS (SVP Global Sales and Marketing) sold 2,325 shares for an estimated $187,162

To track insider transactions, check out Quiver Quantitative's insider trading dashboard.

Ciena Corporation Hedge Fund Activity

We have seen 358 institutional investors add shares of Ciena Corporation stock to their portfolio, and 358 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

PRICE T ROWE ASSOCIATES INC /MD/ added 2,385,270 shares (+909.6%) to their portfolio in Q3 2025, for an estimated $347,462,280
POINT72 ASSET MANAGEMENT, L.P. removed 2,173,653 shares (-78.9%) from their portfolio in Q3 2025, for an estimated $316,636,032
BARROW HANLEY MEWHINNEY & STRAUSS LLC removed 2,093,357 shares (-49.2%) from their portfolio in Q3 2025, for an estimated $304,939,314
LONE PINE CAPITAL LLC added 2,006,662 shares (+inf%) to their portfolio in Q3 2025, for an estimated $292,310,453
BLACKROCK, INC. removed 1,471,087 shares (-8.6%) from their portfolio in Q3 2025, for an estimated $214,293,243
JPMORGAN CHASE & CO added 1,219,787 shares (+23.3%) to their portfolio in Q3 2025, for an estimated $177,686,372
ARROWSTREET CAPITAL, LIMITED PARTNERSHIP added 1,093,557 shares (+2174.2%) to their portfolio in Q3 2025, for an estimated $159,298,448

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.

Ciena Corporation Congressional Stock Trading

Members of Congress have traded $CIEN stock 5 times in the past 6 months. Of those trades, 2 have been purchases and 3 have been sales.

Here’s a breakdown of recent trading of $CIEN stock by members of Congress over the last 6 months:

REPRESENTATIVE LISA C. MCCLAIN has traded it 5 times. They made 2 purchases worth up to $30,000 on 10/30, 06/17 and 3 sales worth up to $45,000 on 10/31, 10/30, 10/15.

To track congressional stock trading, check out Quiver Quantitative's congressional trading dashboard.

Ciena Corporation Analyst Ratings

Wall Street analysts have issued reports on $CIEN in the last several months. We have seen 7 firms issue buy ratings on the stock, and 0 firms issue sell ratings.

Here are some recent analyst ratings:

Stifel issued a "Buy" rating on 12/09/2025
Citigroup issued a "Buy" rating on 11/10/2025
Rosenblatt issued a "Buy" rating on 09/26/2025
Barclays issued a "Overweight" rating on 09/05/2025
Argus Research issued a "Buy" rating on 09/05/2025
JP Morgan issued a "Overweight" rating on 09/05/2025
Wolfe Research issued a "Outperform" rating on 07/08/2025

To track analyst ratings and price targets for Ciena Corporation, check out Quiver Quantitative's $CIEN forecast page.

Ciena Corporation Price Targets

Multiple analysts have issued price targets for $CIEN recently. We have seen 12 analysts offer price targets for $CIEN in the last 6 months, with a median target of $165.0.

Here are some recent targets:

Ruben Roy from Stifel set a target price of $230.0 on 12/09/2025
Ryan Koontz from Needham set a target price of $240.0 on 12/08/2025
Meta Marshall from Morgan Stanley set a target price of $185.0 on 12/04/2025
Mike Genovese from Rosenblatt set a target price of $175.0 on 12/04/2025
Atif Malik from Citigroup set a target price of $230.0 on 11/10/2025
Amit Daryanani from Evercore ISI Group set a target price of $200.0 on 11/10/2025
Tal Liani from B of A Securities set a target price of $155.0 on 09/17/2025