Ciena tops 3Q earnings and revenue expectations

MarketsAssociated Press

Ciena Corp. (CIEN) on Thursday reported profit of $16.2 million in its fiscal third quarter.

The Hanover, Maryland-based company said it had profit of 15 cents per share. Earnings, adjusted for amortization costs and stock option expense, came to 32 cents per share.

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The results beat Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 29 cents per share.

The developer of high-speed networking technology posted revenue of $603.6 million in the period, also topping Street forecasts. Analysts expected $599.8 million, according to Zacks.

For the current quarter ending in October, Ciena said it expects revenue in the range of $570 million to $610 million. Analysts surveyed by Zacks had expected revenue of $629.4 million.

Ciena shares have decreased 15 percent since the beginning of the year. The stock has dropped 1 percent in the last 12 months.


This story was generated by Automated Insights ( using data from Zacks Investment Research. A stock research report on CIEN from Zacks is available at:


Keywords:Ciena,Earnings Report