Ciena: Fiscal 2Q Earnings Snapshot
Posted Jun 4, 2020 07:18:38 AM.
Last Updated Jun 4, 2020 07:30:17 AM.
This article is more than 5 years old.
HANOVER, Md. (AP) _ Ciena Corp. (CIEN) on Thursday reported fiscal second-quarter profit of $91.7 million.
The Hanover, Maryland-based company said it had net income of 59 cents per share. Earnings, adjusted for one-time gains and costs, were 76 cents per share.
The results beat Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of 51 cents per share.
The developer of high-speed networking technology posted revenue of $894.1 million in the period, also exceeding Street forecasts. Seven analysts surveyed by Zacks expected $887.7 million.
Ciena shares have increased 32% since the beginning of the year. The stock has increased 62% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CIEN at https://www.zacks.com/ap/CIEN
The Associated Press
