Stock Alert: Ciena Shares Rise 6% In Pre-Market On Upbeat Q1

(RTTNews) - Shares of Ciena Corp. (CIEN) are rising above 6% in pre-market today, after the company reported upbeat Q1 results. The stock has been trading between $32.76 and $46.78 in the past one year, and closed Wednesday's trading session at $41.62, up $1.60 or 4.00%.

The company's Q1 GAAP net income was $62.3 million or $0.40 per share versus $33.6 million or $0.21 per share last year.

Adjusted non-GAAP net income was $81.7 million or $0.52 per share, higher than the previous year's $52.8 million or $0.33 per share.

Revenue for the quarter was $832.9 million compared to $778.5 million generated a year ago.

Analysts polled by Thomson Reuters expected earnings of $0.38 per share on revenue of $819.79 million for the quarter. Analysts' estimates typically exclude certain special items.