UPDATE: Ciena Posts Narrower Q1 Loss
Ciena Corp (NASDAQ: 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.
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.