Ciena Corporation Soars After a Beat-and-Raise Second Quarter

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Ciena Corporation Soars After a Beat-and-Raise Second Quarter

by TheStreet 1:05 mins

Ciena Corporation Soars After a Beat-and-Raise Second Quarter

by TheStreet 1:05 mins

Shares of Ciena Corp (CIEN) are soaring Thursday after the company beat and raised in its recently-reported second quarter. The developer of networking equipment earned 17 cents a share, beating estimates by 4 cents. The result was more than eight times what the company profited a year earlier. Revenue of just over $560 dollars came in a hair’s width higher than forecasts of $559.2 million and represented a 10.3% increase in top-line growth. The company, which moved from the Nasdaq to the New York Stock Exchange last December, said it expects an even stronger second half to the year. Growth will likely be driven by a shift to on-demand networking models, particularly those able to scale to suit growing business customers.

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