Ciena Corporation (NYSE:CIEN) stock rose just over 4% in Thursday’s premarket deals as the optical broadband networks operator reported expectation-beating quarterly results.
At $1.07 billion, Ciena’s third-quarter revenue was ahead of the $1.04 billion pencilled in by Wall Street analysts.
Earnings per share meanwhile came in at 59 cents, beating a consensus forecast of 51 cents.
The company told investors its positive performance was driven by higher customer activity, with strength seen “across all regions”.
“We are encouraged by increased customer activity that, when combined with our elevated backlog, market leadership and expanding addressable market, we believe will drive growth and market share gains going forward,” chief executive Gary Smith said in a statement.
In New York, Ciena stock was up 4.26% in premarket deals at $45.00.