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Ciena shares pop on first-quarter results
Ciena Corp. shares soared in trading Thursday morning after the Hanover telecommunications equipment maker’s first-quarter profit beat Wall Street estimates.
Ciena posted a profit of $12.3 million, or 12 cents per share, during the period. Analysts polled by Thomson Reuters projected a loss of 14 cents per share.
The results compare with a loss of $16.5 million, or 17 cents per share, in the same quarter last year.
Ciena’s (NASDAQ: CIEN) first-quarter revenue increased 9 percent to $453.1…
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