Why Ciena Stock Plunged 30% in September
Shares of Ciena (NYSE: CIEN) plunged by 30% last month, according to data provided by S&P Global Market Intelligence. Most of that decline occurred when Ciena reported fiscal third-quarter results in early September.
Revenue in the fiscal third quarter crawled up 2% to $976.7 million, which resulted in adjusted earnings per share of $1.06. While those results topped consensus estimates, investors were disappointed by the optical networking tech company's guidance.
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Source Fool.com
