Investing.com - Ciena (NYSE:CIEN) Corp reported on Thursday second quarter earnings that beat analysts' forecasts and revenue that topped expectations.
Ciena Corp announced earnings per share of $0.76 on revenue of $894.1M. Analysts polled by Investing.com anticipated EPS of $0.49 on revenue of $881.06M. That with comparison to EPS of $0.48 on revenue of $865M in the same period a year before. Ciena Corp had reported EPS of $0.52 on revenue of $832.91M in the previous quarter. Analysts are expecting EPS of $0.71 and revenue of $970.96M in the upcoming quarter.
Ciena Corp shares are up 25.51% from the beginning of the year , still down 6.26% from its 52 week high of $57.16 set on June 3. They are outperforming the EUR/USD which is down 0% year to date.
Ciena Corp shares lost 4.85% in intra-day trade following the report.
Ciena Corp follows other major Technology sector earnings this month
Ciena Corp's report follows an earnings beat by NVIDIA on May 21, who reported EPS of $1.8 on revenue of $3.08B, compared to forecasts EPS of $1.65 on revenue of $2.97B.
Cisco had beat expectations on May 13 with third quarter EPS of $0.79 on revenue of $11.98B, compared to forecast for EPS of $0.71 on revenue of $11.88B.
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