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Ciena Stock Surges 23% on AI-Driven Revenue Growth and Strong Q3 Performance
Ciena Stock Surges 23% on AI-Driven Revenue Growth and Strong Q3 Performance
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BTCCSquare news:
Ciena Corporation's stock soared 23.3% to $116.92 after reporting a 29.4% year-over-year revenue increase in Q3, reaching $1.22 billion. The networking technology firm attributed its growth to robust demand for AI infrastructure and improved operational efficiency. GAAP net income ROSE to $50.3 million ($0.35 per share), while adjusted earnings hit $0.67 per share.
Operating margins expanded significantly, with adjusted EBITDA jumping 60.4% to $158 million. The company repurchased $81.8 million worth of shares, signaling confidence in its trajectory. Despite a slight 1.61% after-hours dip, Ciena's performance underscores the market's appetite for AI-related infrastructure plays.
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