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March 5, 2020, 7:15 a.m. EST

Ciena's stock surges after profit, revenue rise above expectations

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By Tomi Kilgore

Shares of Ciena Corp. /zigman2/quotes/208745450/composite CIEN +2.26% surged 5.7% in premarket trading Thursday, after the optical networking company reported fiscal first-quarter profit and revenue that beat expectations. Net income for the quarter to Jan. 31 rose to $62.3 million, or 40 cents a share, from $33.6 million, or 21 cents a share, in the year ago period. Excluding non-recurring items, adjusted earnings per share grew to 52 cents from 33 cents, well above the FactSet consensus of 38 cents. Revenue increased 7% to $832.9 million, topping the FactSet consensus of $819.6 million. The stock has run up 14.7% over the past three months through Wednesday, while the S&P 500 /zigman2/quotes/210599714/realtime SPX +1.22% has edged up 0.4%.

/zigman2/quotes/208745450/composite
US : U.S.: NYSE
$ 50.64
+1.12 +2.26%
Volume: 1.46M
May 13, 2021 4:00p
P/E Ratio
22.31
Dividend Yield
N/A
Market Cap
$7.68 billion
Rev. per Employee
$502,298
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/zigman2/quotes/210599714/realtime
US : S&P US
4,112.50
+49.46 +1.22%
Volume: 2.16B
May 13, 2021 5:03p
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