Ciena Stock Surges 27% on Strong Q3 Earnings Beat
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Ciena's shares skyrocketed as the networking technology firm posted fiscal third-quarter results that demolished Wall Street expectations. Adjusted earnings of 67 cents per share crushed the 53-cent consensus estimate, marking a 91% year-over-year surge. Revenue climbed 30% to $1.22 billion, powered by robust growth in optical networking segments that now comprise two-thirds of total sales.
The rally extends Ciena's year-to-date gains to 42%, with shares nearly doubling over the past twelve months. Management's fourth-quarter revenue guidance of $1.24-$1.32 billion suggests continued momentum, potentially exceeding analyst projections by at least $30 million even at the range's lower bound.
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