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HANOVER, Md. (AP) _ Ciena Corp. (CIEN) on Thursday reported fiscal first-quarter earnings of $62.3 million.
The Hanover, Maryland-based company said it had net income of 40 cents per share. Earnings, adjusted for one-time gains and costs, were 52 cents per share.
The results exceeded Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of 38 cents per share.
The developer of high-speed networking technology posted revenue of $832.9 million in the period, which also topped Street forecasts. Seven analysts surveyed by Zacks expected $821.8 million.
Ciena shares have decreased nearly 3% since the beginning of the year. The stock has fallen nearly 3% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CIEN at https://www.zacks.com/ap/CIEN
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