$7 billion in backlog and $2 billion in fiscal Q1 orders have strengthened the case for Ciena ahead of its June 4 fiscal Q2 report, after the stock surged 136% this year.
AI data-center demand is driving that momentum: Ciena's optical networking gear links servers and clusters, and management says demand is exceeding supply for at least the next several quarters.
Revenue rose 33% year over year to $1.43 billion in fiscal Q1, adjusted earnings jumped 111%, and the company guided for full-year revenue of about $6.1 billion, up 28%.
The broader backdrop remains supportive, with the data-center interconnect market projected to expand from under $19 billion this year to nearly $65 billion by 2035.