Home / Business / Ciena Earnings Miss; Optical company establishes a repurchase of shares of $ 300 million | Stock News & Stock Market Analysis

Ciena Earnings Miss; Optical company establishes a repurchase of shares of $ 300 million | Stock News & Stock Market Analysis



Ciena (CIEN) said Thursday that the adjusted fiscal fourth quarter earnings were 46 cents per share, 4% more than a year ago, and that revenues increased 4% to $ 744.4 million. Analysts expected Ciena to report 50 cents sales gains of $ 737 million for the period ended October 31.

X Ciena announced a repurchase of shares of $ 300 million through fiscal year 2020.

Ciena said that it would report non-GAAP GAINS differently. According to that new method, Ciena said fourth-quarter earnings were 32 cents per share versus 30 cents per share the previous year.

The shares of the manufacturer of optical systems for communications networks and data centers rose 3.1

% at the start of the day of trading but ended with a decline of 1.9% t in 20.76 on today's stock exchange.

Finisar (FNSR), another fiber optic game, reports second quarter fiscal gains after Thursday's close. Finisar's shares were not yet active.

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