Tag: $Ciena

Ciena Corporation reported fiscal third-quarter earnings that significantly exceeded analyst expectations, driven by accelerating demand for high-speed connectivity solutions supporting artificial intelligence infrastructure. The networking systems provider’s shares surged 13% in premarket trading following the announcement.

Shares of Ciena were trading lower after the optical networking equipment company reported disappointing quarterly earnings.

Ciena Corp reported a fiscal third-quarter 2024 revenue decline of 11.8% year-on-year to $942.3 million, beating the analyst consensus estimate of $927.2 million.

Ciena posted lower revenue in its latest quarter weighed down by results in its core segment, but the overall decline was less dire than Wall Street predicted.