Ciena: Fiscal 3Q Earnings Snapshot

HANOVER, Md. (AP) _ Ciena Corp. (CIEN) on Thursday reported fiscal third-quarter earnings of $50.8 million.

On a per-share basis, the Hanover, Maryland-based company said it had net income of 34 cents. Earnings, adjusted for non-recurring costs and stock option expense, came to 48 cents per share.

The results surpassed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 35 cents per share.

The developer of high-speed networking technology posted revenue of $818.8 million in the period, which also topped Street forecasts. Eight analysts surveyed by Zacks expected $791.7 million.

Ciena shares have increased 30 percent since the beginning of the year. The stock has risen 14 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CIEN at https://www.zacks.com/ap/CIEN