Ciena: Fiscal Q1 Earnings Snapshot

HANOVER, Md. (AP) — HANOVER, Md. (AP) — Ciena Corp. (CIEN) on Thursday reported fiscal first-quarter earnings of $49.5 million.

On a per-share basis, the Hanover, Maryland-based company said it had profit of 34 cents. Earnings, adjusted for stock option expense and amortization costs, came to 66 cents per share.

The results exceeded Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 47 cents per share.

The developer of high-speed networking technology posted revenue of $1.04 billion in the period, also exceeding Street forecasts. Eight analysts surveyed by Zacks expected $1.02 billion.

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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