Ciena Revenue Jumps 37% as AI Demand Drives $8.5B Backlog

Key Facts

1Ciena reported a 37% year-over-year revenue increase in Q3 FY2026.

2The company's backlog reached $8.5B in Q3 and is expected to exceed $10B by year-end.

3Ciena targets a revenue CAGR of approximately 30% through FY2029.

Ciena reported a 37% year-over-year revenue increase for the third quarter of fiscal year 2026. Seeking Alpha reported that the company's backlog reached $8.5 billion in Q3, with expectations to exceed $10 billion by year-end as demand for optical networking equipment continues to accelerate.

The company is targeting a revenue compound annual growth rate (CAGR) of approximately 30% through fiscal year 2029, as AI-related demand currently outstrips available supply. In equity markets, CIEN closed at $400.40 on October 13, 2026, having reached a session high of $401.87.