Ciena (CIEN) +8.7% premarket despite reporting FQ1 revenue below consensus and a...

|About: Ciena Corporation (CIEN)|By:, SA News Editor

Ciena (CIEN) +8.7% premarket despite reporting FQ1 revenue below consensus and a deeper-than-expected net loss. Gross margin improved to 40.3% from 38.9%, and operating expenses sank 18%. CEO Gary Smith says FQ1 did not “reflect the underlying strength of the business and ongoing customer demand," and results will be stronger in the second half.