Ciena Corp. Q2 Profit Increases, beats estimates

(RTTNews) - Ciena Corp. (CIEN) revealed a profit for its second quarter that increased from last year and beat the Street estimates.

The company's earnings came in at $57.654 million, or $0.38 per share. This compares with $38.922 million, or $0.25 per share, in last year's second quarter.

Excluding items, Ciena Corp. reported adjusted earnings of $110.393 million or $0.74 per share for the period.

Analysts on average had expected the company to earn $0.61 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 19.3% to $1.132 billion from $949.227 million last year.

Ciena Corp. earnings at a glance (GAAP) :

-Earnings (Q2): $57.654 Mln. vs. $38.922 Mln. last year. -EPS (Q2): $0.38 vs. $0.25 last year. -Analyst Estimate: $0.61 -Revenue (Q2): $1.132 Bln vs. $949.227 Mln last year.