Ciena: Fiscal 2Q Earnings Snapshot
HANOVER, Md. (AP) _ Ciena Corp. (CIEN) on Thursday reported fiscal second-quarter profit of $52.7 million.
The Hanover, Maryland-based company said it had profit of 33 cents per share. Earnings, adjusted for one-time gains and costs, were 48 cents per share.
The results surpassed Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of 40 cents per share.
The developer of high-speed networking technology posted revenue of $865 million in the period, also topping Street forecasts. Eight analysts surveyed by Zacks expected $816.4 million.
Ciena shares have risen nearly 6% since the beginning of the year. The stock has risen 49% in the last 12 months.