Ciena Corporation (CIEN) stock fell sharply by 5.08% in the pre-market trading session on Thursday, following the company's weaker-than-expected fourth-quarter earnings report.
The telecom equipment maker reported adjusted earnings per share of $0.54 for the fiscal fourth quarter, missing analysts' estimates of $0.66. However, the company's revenue of $1.124 billion beat expectations of $1.104 billion.
The disappointing earnings results likely weighed on investor sentiment, driving Ciena's shares lower in pre-market trading. Despite the revenue beat, the company's failure to meet profit expectations raised concerns among investors about its profitability and margins.
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