Ciena Trades Higher After Positive Q2 Earnings

Software company Ciena Corporation CIEN shares are trading higher after the group reported positive second-quarter sales of $865 million, which beat the $819 million estimate and is an increase of 18.5 percent year over year.

Ciena's adjusted earnings came in at 48 cents per share, which beat the estimate of 41 cents.

"Today we reported very strong quarterly performance, including continued market share gains, driven by our technology leadership and diversified customer base in high growth markets," said Gary Smith, President and CEO. "We are entering the second half with strong visibility and increased confidence for the full fiscal year supported by favorable industry dynamics and growing competitive advantage."

Ciena's stock traded higher by 8.7 percent to $39 per share in Thursday's pre-market session.