Ciena’s Investors Lose Signal
Shares of the optical-networking hardware company Ciena fell 10% after reporting weaker-than-expected earnings.
The earnings miss is the second straight for the company and well below its already lowered guidance. Revenues were $868 million vs. the $870-$930 million range expected by management and below Wall Street’s $904 million estimate. In addition, its adjusted earnings per share of $0.33 missed estimates by a penny. 🔻