By Matt Walker
Telco earnings reports from 2Q22 make clear that the spending climate remains strong. Capex climbed 3% YoY, pushing annualized capital intensity (capex/revenues) up further to 17.8% – the highest in at least a decade. The year-end 2022 capex figure may slightly exceed our latest forecast of $326B. This is benefiting lots of suppliers, but the benefits clearly are not distributed equally. With Europe’s big optical event coming next week (ECOC), now is a good time to check in on the top-line figures among the world’s optics-focused suppliers (fiber, access and transport). This is limited to a sample of vendors in this space, focusing on those which sell into telco markets, don’t rely primarily on one geographic market for sales, and report public financials with segment breakouts relevant to optical fiber, or access/transport systems.
- Table Of Contents
- Figures
- Coverage
- Visuals
Table Of Contents
Cover: page 1
Revenue trends for select vendors in optics space: pages 2-3
About: page 4
Figures
Figure 1: Recent Telco NI revenue figures for select fiber cable suppliers (annualized, US$B)
Figure 2: Recent Telco NI revenues for select optical access/transport vendors (2Q only, US$B)
Coverage
Companies and organizations mentioned in this report include:
Adtran
ADVA
Calix
Ciena
Corning
Fiberhome
Fujikura
Furukawa
Huawei
Infinera
Nokia
Prysmian
Sterlite Technologies
ZTE
Visuals
