HANOVER, Md. (AP) — HANOVER, Md. (AP) — Ciena Corp. (CIEN) on Thursday reported a loss of $16.8 million in its fiscal second quarter.
The Hanover, Maryland-based company said it had a loss of 12 cents per share. Earnings, adjusted for stock option expense and non-recurring costs, came to 27 cents per share.
The results exceeded Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 15 cents per share.
The developer of high-speed networking technology posted revenue of $910.8 million in the period, also exceeding Street forecasts. Eight analysts surveyed by Zacks expected $896.6 million.
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