Optical Transceivers

Ciena (NYSE: CIEN) — Q3 FY2026 Post Earnings

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Ciena q3 26 post earnings Finance Note

Operations

Q3 2026
Q3 Revenue ↑ 37.0% YoY $1.67B
Segments
Networking Platforms 81.1%
Platform Software and Services 5.9%
Blue Planet Automation Software and Services 1.4%
Global Services 11.6%

Key Earnings Driver

RLS, Waveserver and Transceivers Networking Platforms revenue increased 44.0% year over year to $1.36B. Within Networking Platforms, Optical Networking revenue increased 46.1% to $1.19B, driven by increased sales of 6500 Reconfigurable Line Systems, Waveserver systems and coherent pluggable transceivers, and Routing and Switching revenue increased 30.6% to $164.4M. Platform Software and Services revenue increased 9.7% to $98.6M, Blue Planet Automation Software and Services revenue declined 16.5% to $23.2M, and Global Services revenue increased 20.8% to $193.6M. On the earnings call, CFO Marc Graff said RLS and Waveserver each grew more than 55%.

Key Operating Metrics¹

METRIC

STATUS

Networking Platforms↑ 44.0%

Optical Networking↑ 46.1%

6500 Reconfigurable Line Systems

🟢 Scaling

Waveserver

🟢 Scaling

Coherent pluggable transceivers

🟢 Scaling

Routing and Switching↑ 30.6%

Global Services↑ 20.8%

Maintenance, Support, and Learning↑ 11.3%

Implementation↑ 33.4%

Advisory and Enablement↑ 16.3%

Key Financial Metrics

Gross Margin 45.40% +4.1 pp YoY
Backlog / Revenue 508.6% 5.08x Qtr Rev
CapEx Intensity N/A

Sources: Ciena Q3 FY2026 Earnings Release — Company Website

Key Operating Metrics¹: Core operating metrics relevant to revenue, sourced from website and/or SEC filings for Q, with status based on reported data.

Credo Technology (NASDAQ: CRDO) — Q1 FY2027 Post Earnings

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Post earnings note company quarterly analysis

Operations

Q1 2027
Q1 Revenue ↑ 114.7% YoY $479M
Segments
Credo Technology 100.0%

Key Earnings Driver

Active Electrical Cables Credo Technology’s Q1 revenue increased 114.7% year over year to $479.0M. The ramp-up of AEC solutions at hyperscale data center customers contributed over 90% of the revenue increase.

Key Operating Metrics¹

METRIC

STATUS

Credo Technology↑ 114.7%

Active Electrical Cables

🟢 Scaling

Key Financial Metrics

Gross Margin 64.50% -2.9 pp YoY
Backlog / Revenue 876.0% 8.76x Qtr Rev
CapEx Intensity 1.52% 0.01x Revenue

Sources: Credo Technology Q1 FY2027 Earnings Release — Company Website, Credo Technology Q1 FY2027 Quarterly Filing — SEC Filing

Key Operating Metrics¹: Core operating metrics relevant to revenue, sourced from website and/or SEC filings for Q, with status based on reported data.

Credo Technology (NASDAQ: CRDO) — Q1 FY2027 Pre Earnings

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Credo Technology CRDO Q1 27 Pre Earnings

Operations

Q4 2026
Q4 Revenue ↑ 157.0% YoY $437M
Segments
Credo Technology 100.0%

Key Earnings Driver

Active Electrical Cables Credo Technology’s Q4 revenue increased 157% year over year to $437.0M. FY2026 revenue increased 206% to $1.34B, with the ramp-up of Active Electrical Cable (AEC) solutions at hyperscale data center customers contributing over 99% of the revenue increase.

Key Operating Metrics¹

METRIC

STATUS

Credo Technology↑ 157.0%

Active Electrical Cables

🟢 Scaling

Key Financial Metrics

Gross Margin 68.20% +1 pp YoY
Backlog / Revenue N/A
CapEx Intensity 1.09% 0.01x Revenue

Sources: Credo Technology Q4 FY2026 Earnings Release — Company Website, Credo Technology FY2026 10-K — SEC Filing

Key Operating Metrics¹: Core operating metrics relevant to revenue, sourced from website and/or SEC filings for Q, with status based on reported data.

NVIDIA (NASDAQ: NVDA) — Q2 FY2027 Post Earnings

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NVIDIA Q2 2027 Post Earnings

Operations

Q2 2027
Q2 Revenue ↑ 105.9% YoY $96.22B
Segments
Data Center 92.5%
Edge Computing 7.5%

Key Earnings Driver

AI Clouds, Industrial, & Enterprise Data Center revenue increased 116.6% to $89.0B, representing 92.5% of total revenue. Within Data Center, AI Clouds, Industrial, & Enterprise revenue increased 138.1% to $40.3B. NVIDIA announced the NVIDIA Vera Rubin platform is ramping into full production, and NVIDIA Blackwell led across every category in the MLPerf Training 6.0 benchmarks. Edge Computing revenue increased 27.5% to $7.2B.

Key Operating Metrics¹

METRIC

STATUS

Data Center↑ 116.6%

Hyperscale↑ 101.5%

AI Clouds, Industrial, & Enterprise↑ 138.1%

🟢 Scaling

Key Financial Metrics

Gross Margin 75.00% +2.6 pp YoY
Backlog / Revenue N/A
CapEx Intensity 2.78% 0.02x Revenue

Sources: NVIDIA Q2 FY2027 Earnings Release — Company Website

Key Operating Metrics¹: Core operating metrics relevant to revenue, sourced from website and/or SEC filings for Q, with status based on reported data.

Cisco (NASDAQ: CSCO) — Q4 FY2026 Post Earnings

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Post earnings note company quarterly analysis

Operations

Q4 2026
Q4 Revenue ↑ 17.6% YoY $17.25B
Segments
Networking 56.7%
Security 12.9%
Collaboration 6.8%
Observability 1.6%
Services 22.0%

Key Earnings Driver

AI Infrastructure Networking revenue increased 28.3% year over year to $9.8B. Within Networking, AI infrastructure revenue reached approximately $4B for FY2026, up approximately 300% from $1B, and AI infrastructure orders reached $9.3B. Security revenue increased 14% to $2.23B, Collaboration revenue increased 12% to $1.17B, Observability revenue increased 6.2% to $275M, while Services revenue increased 0.2% to $3.79B.

Key Operating Metrics¹

METRIC

STATUS

Networking↑ 28.3%

AI Infrastructure

🟢 Scaling

Security↑ 14.0%

Services↑ 0.2%

Sources: Cisco Q4 FY2026 and FY2026 Earnings — Company Website

Key Operating Metrics¹: Core operating metrics relevant to revenue, sourced from website and/or SEC filings for Q, with status based on reported data.

Cisco (NASDAQ: CSCO) — Q4 FY2026 Pre Earnings

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Pre earnings note company quarterly analysis

Operations

Q3 2026
Q3 Revenue ↑ 12.0% YoY $15.84B
Segments
Networking 55.6%
Security 12.7%
Collaboration 6.5%
Observability 1.7%
Services 23.5%

Key Earnings Driver

AI Infrastructure Networking revenue increased 24.7% year over year to $8.8B. Within Networking, Cisco reported $5.3B in AI infrastructure orders year to date through Q3 FY2026, with the company expecting FY2026 AI infrastructure orders to reach $9B and AI infrastructure revenue to reach $4B. Security revenue declined 0.2% to $2.0B, Collaboration revenue decreased 0.7% to $1.0B, Observability revenue increased 3.1% to $269M, while Services revenue declined 1.4% to $3.7B.

Key Operating Metrics¹

METRIC

STATUS

Networking↑ 24.7%

AI Infrastructure

🟢 Scaling

Security↓ 0.2%

🟡 Watch

Services↓ 1.4%

🟡 Watch

Sources: Cisco Q3 FY2026 Earnings Release — Company Website, Cisco Q3 FY2026 Revenue Disaggregation — SEC Filing

Key Operating Metrics¹: Core operating metrics relevant to revenue, sourced from website and/or SEC filings for Q, with status based on reported data.