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Ciena Stock Surges 22.7% After Beating Q3 Earnings Forecasts
Ciena Stock Surges 22.7% After Beating Q3 Earnings Forecasts
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Ciena (CIEN) shares jumped 22.7% in early trading after the company reported fiscal Q3 earnings that surpassed analyst expectations. The networking equipment Maker posted $0.67 in adjusted EPS on $1.22 billion revenue, beating estimates of $0.53 EPS and $1.17 billion sales.
While GAAP earnings of $0.35 per share fell short of the adjusted figure, they represented a 250% year-over-year improvement. CEO Gary Smith highlighted the critical role of communications networks in AI growth, noting Ciena's visibility extends into fiscal 2026.
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