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StocksMedium•6 March 2026•

1 min read

Ciena and GitLab Shares Slump as Weak Guidance Overshadows Earnings Beats

3D metallic 'PVH' text with 'CALVIN KLEIN' and 'TOMMY HILFIGER' names. Upward trend line, 'EARNINGS BEAT', 'REVENUE: +14%', and '2026 GUIDANCE' on an orange background.

Key Facts

1Ciena shares dropped 16% after issuing FY2026 revenue guidance of $5.9B-$6.3B, well below the $6.99B analyst consensus.

Shares of Ciena Corporation and GitLab Inc. experienced significant declines despite both companies reporting quarterly earnings and revenue that exceeded Wall Street estimates. Ciena's stock plummeted 16% after the company issued FY2026 revenue guidance between $5.9 billion and $6.3 billion, missing the analyst consensus of $6.99 billion. Similarly, GitLab shares fell 7% as its FY2027 earnings per share (EPS) guidance midpoint of $0.78 failed to meet the market expectation of $1.03. The sharp sell-off highlights a market environment that is increasingly sensitive to forward-looking growth projections within the tech and networking sectors. Investors clearly prioritized disappointing future outlooks over strong historical quarterly performance, leading to a bearish reaction across both instruments.