Ciena Stock Jumps 18% On Strong Q3 Results

(RTTNews) - Ciena Corporation (CIEN) surged 17.83 percent to $111.73 on Thursday, up $16.91, after reporting strong third-quarter earnings. Revenue climbed to $1.22 billion from $942.3 million a year earlier, marking a 29.4 percent increase. Net income rose sharply to $50.3 million compared with $14.2 million in the prior-year quarter.

The stock opened at $115.00 and traded between $111.00 and $122.00, versus a previous close of $94.82 on the New York Stock Exchange. Volume reached 7.0 million shares, well above the average of 2.2 million.

Ciena shares are trading near their 52-week high of $122.00 and far above the low of $49.21.