Investing.com - Ciena Corp reported on Thursday third quarter earnings that beat analysts' forecasts and revenue that topped expectations.
Ciena Corp announced earnings per share of $1.06 on revenue of $976.7M. Analysts polled by Investing.com anticipated EPS of $0.82 on revenue of $971.88M.
Ciena Corp shares are up 8.69% from the beginning of the year and are trading at $46.40 , down-from-52-week-high.They are outperforming the EUR/USD which is down 0% from the start of the year.
Ciena Corp shares lost 22.76% in intra-day trade following the report.
Ciena Corp follows other major Technology sector earnings this month
Ciena Corp's report follows an earnings beat by NVIDIA on Wednesday, August 19, 2020, who reported EPS of $2.18 on revenue of $3.87B, compared to forecasts EPS of $1.97 on revenue of $3.65B.
Salesforce.com had beat expectations on Tuesday, August 25, 2020 with second quarter EPS of $1.44 on revenue of $5.15B, compared to forecast for EPS of $0.67 on revenue of $4.9B.
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