Telecommunications company Ciena (CIEN) - Get Report on Thursday reported adjusted fiscal third-quarter earnings and revenue that beat analysts' forecasts on strong demand for its networking platforms and related software and services.
The Hanover, Maryland-based company posted fiscal third-quarter adjusted net income of $112.3 million, or 71 cents a share, vs. $74.3 million, or 48 cents a share, in the comparable year-ago quarter. Analysts polled by FactSet had been expecting earnings of 58 cents a share.
Revenue was $960.6 million, up 17.3% from $818.8 million a year ago and above analysts' forecasts of $932.5 million.
"We delivered another quarter of outstanding financial results as we benefit from our strong competitive position within the industry and continue to gain market share," CEO Gary Smith said in a statement.
"Looking ahead, fiscal 2019 will be an extraordinary year for Ciena, including substantial revenue growth and increased profitability."
Shares of Ciena jumped more than 8% in premarket trading on Thursday, rising $3.31 to $44.51.