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Ciena Corp. Provides Upbeat Q4 Revenue Guidance

Telecom-equipment maker, Ciena Corporation (NASDAQ: CIEN) reported on Wednesday that fiscal third quarter loss narrowed as the bottom line was bolstered by higher revenue and wider margin. Shares rallied as both revenue and earnings beat analysts’ expectations. In addition, the Company also handed strong guidance for the current quarter. The Company anticipates revenue of $550 million to $580 million while Street’s consensus estimate was of $551 million. Revenue from equipment business rose 17% to $437.4 million while revenue from services edged up slightly to $100.9 million, in the latest period. Overall, revenue increased 14% to $538.4 million. Gross margin widened to 42.4% from 38.2%.

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