Ciena Corp posts its first quarter earnings that surpassed analysts' expectations, even as revenue missed forecasts.
The telecom equipment company’s earnings came in at $0.47 a share, compared to the $0.4511 expected by analysts polled by Investing.com. Revenue of $84.44 million, however, fell short of analysts’ anticipated $853.68 million.
Ciena shares are down about -14% since the beginning of the year versus the S&P 500's decrease of -9.2%.