By Nate Wolf
Ciena was falling in premarket trading Thursday after the networking-equipment company missed earnings expectations for its fiscal second quarter.
The company posted adjusted earnings of 42 cents a share, below Wall Street's consensus call for 52 cents. Revenue, however, came in at $1.13 billion and exceeded analysts' forecasts of $1.09 billion.
Ciena shares were down 5.9% to $78.97.
The earnings miss appeared to be driven by higher-than-expected costs, with the company reporting $673 million in costs of goods sold, above the consensus estimate of $629 million.
Coming into Thursday, Ciena stock has fallen 1.1% this year but has risen 73% over the past 12 months on the back of strong cloud and artificial-intelligence-demand forecasts.
Write to Nate Wolf at nate.wolf@barrons.com
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(END) Dow Jones Newswires
June 05, 2025 07:40 ET (11:40 GMT)
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