Ciena's stock jumps after profit beats expectations amid surprise revenue growth

Shares of Ciena Corp. CIEN, -0.44% charged up 5.8% successful premarket trading Thursday, aft the optical networking institution reported fiscal third-quarter nett that bushed expectations and a astonishment maturation successful revenue, and provided an upbeat outlook citing a robust request environment. Net income for the 4th to July 31 roseate to $238.2 million, oregon $1.52 a share, from $142.3 million, oregon 91 cents a share, successful the year-ago period. Excluding non-recurring items, specified arsenic a $124.2 cardinal taxation payment related to a transportation of intangible assets, adjusted net per stock fell to 92 cents from $1.06 but was supra the FactSet statement of 80 cents. Revenue grew 1.2% to $988.1 cardinal from $976.7 million, portion the FactSet statement was for a diminution to $969.6 million. Gross borderline improved to 48.0% from 47.6%. "These results combined with a robust request situation springiness america assurance that we volition present our expected beardown 2nd fractional performance," said Chief Executive Gary Smith. The banal has gained 4.5% implicit the past 3 months done Wednesday, portion the S&P 500 SPX, +0.03% has tacked connected 7.5%.