UPDATE: Ciena Posts Narrower Q1 Loss

Ciena Corp CIEN reported a narrower first-quarter loss. Ciena posted a quarterly loss of $47.7 million, or $0.49 per share, versus a year-ago loss of $79.1 million, or $0.84 per share. Its adjusted loss came in at $0.17 per share. Its revenue dropped to $416.7 million, from $433.3 million. However, analysts were expecting a loss of $0.04 per share on revenue of $426 million. Ciena projects Q2 revenue of $435 million to $460 million, versus analysts' estimates of $450.6 million. Ciena shares gained 6.99% to $14.38 in pre-market trading.