Ciena (CIEN) shares are trading higher this morning after the company reported financial results for its fiscal second quarter ended April 30.
For the quarter, the networking equipment provider reported revenue of $253.5 million and a non-GAAP loss of 13 cents a share; the Street had been expecting $268 million and a loss of 27 cents.
For Q3, the company sees revenue of $375 million to $400 million; consensus had been $388.1 million.
“We are encouraged by recent signs of recovery in customer spending, although Europe remains a challenge due to volatile macroeconomic conditions,” CEO Gary Smith said in a statement. “While we still have work to do in delivering the full value of the combined company, we believe we are strategically well-positioned, with strong customer relationships and a portfolio of leading solutions that are tightly aligned with the market trend toward high-capacity, scalable next-generation networks.”
CIEN this morning is up 65 cents, or 4.7%, to $14.49.
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