Ciena Q3 beats revenue and EPS, but analysts cut price targets

Ciena reported Q3 revenue of $1.67B (+37% YoY), GAAP EPS $1.83 and adjusted $2.11, with ~$8.5B backlog. Networking was $1.36B and services $193.6M, while analysts pared price targets despite a FY guide of ~$6.42B.