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Ciena (NYSE: CIEN) makes share gains on strong Q2 showing

  • Optical network enterprise handily beats pre-report forecasts
  • Net income rises from $13.9m to $52.7m
  • Shares advance 10.3%

Ciena Corporation (NYSE: CIEN) was riding a share rise wave on Thursday as Q2 earnings and revenue beats pushed the telecoms company's stock value to $39.55 just after the New York Stock Exchange opened.

Ciena posted $0.48 adjusted EPS and $865m revenue versus the $0.41 and $819m Wall Street consensus. Gross margin also widened Y/Y to 43.3%.

CEO Gary Smith said: “Today we reported very strong quarterly performance, including continued market share gains, driven by our technology leadership and diversified customer base in high growth markets.”