From AT&T to Ciena: Tracking optical earnings in Q2 2024

The second-quarter 2024 earnings reporting season has begun, and Lightwave+BTR is tracking how key players in the optical networking industry segment—which includes optical vendors and business service providers--performed.

Please check here for updates on service providers, vendors and integrators in this segment.

Check out how Lightwave+BTR is tracking the results of the broadband industry for the second quarter.

Also, check out our coverage of Q4 2023 and Q1 2024 earnings. 

Jul 11 

Ekinops
www.ekinops.com
Ekinops reported that second-quarter revenues declined 25% year-over-year to $32 million as it saw ongoing struggles in its optical transport division.
- see our coverage 

Jul 22

Verizon
www.verizon.com
Verizon reported second-quarter consolidated net income of $4.7 billion, down from $4.8 billion in the second quarter of 2023.
- see our broadband coverage

Jul 24

AT&T
www.att.com
AT&T reported second-quarter revenues were $29.8 billion versus $29.9 billion in the year-ago quarter, down 0.4%. The telco said this decline was due to lower Business Wireline service revenues and declines in Mobility equipment revenues driven by lower sales volumes.
- see our broadband coverage

Ribbon Communications
www.ribboncommunications.com
Ribbon reported that second-quarter revenue was $193 million, an 8.5% decrease year-over-year.
-see our coverage

July 30

Corning
www.corning.com
Corning reported that optical communications sales were $1.1 billion, up 20 percent from the first quarter, marking a return to growth.
- see our coverage

Aug. 2

Frontier
www.frontier.com
Fiber subscriber growth drove Frontier's consumer revenue by 1.8% year-over-year to $789 million, up 1.8% year-over-year. However, the company still saw fiber growth, partly offset by declines in copper.
-see our broadband coverage
-and our business services coverage

TDS Telecom
www.tdsinc.com
TDS reported second quarter 2024 revenues of $1.24 billion, down 2.3% year over year. During the quarter, the company also announced two deals: agreements to sell USCellular’s wireless operations to T-Mobile and TDS’s OneNeck IT Solutions operations to US Signal. 
- see our coverage

Aug. 5

Adtran 
www.adtran.com
Adtran reported revenues of $226 million during the company’s Q2 2024 earnings call—down 31% year over year and flat quarter over quarter. International revenues made up 52.4% of total revenues, and domestic revenues contributed 47.6%.
- see our coverage

Aug. 6 

Lumen
www.lumen.com
Lumen reported second-quarter revenues of $3.27 billion, declining 10.7% year-over-year. Adjusted EBITDA was $1.01 billion, down from $1.3 billion in the same period a year ago.
-see our coverage

Aug. 8

Cogent Communications
www.cogentco.com
Cogent reported that its overall revenue for the second quarter was $260.4 million fueled by an uptick in on-net revenues.
- see our coverage

Aug. 14

Cisco
www.cisco.com
Cisco reported $13.6 billion in revenue for the fiscal fourth quarter, down 10% year over year.
- see our coverage 
Lumentum
www.lumentum.com
Lumentum reported overall revenue of $308.3 million for the fiscal fourth quarter of 2024 and net income of $371 million for the fiscal fourth quarter of 2023, with a GAAP net loss of $60.2 million, or 0.88 cents per diluted share.
- see our coverage 

Sept. 4

Ciena
www.ciena.com
For the fiscal third quarter of 2024, Ciena reported revenue of $942.3 million, down from $1.07 billion for the fiscal third quarter of 2023.
- see our coverage