Ciena beats by $0.05, beats on revs; authorizes new $500 mln common stock repurchase
- Reports Q4 (Oct) earnings of $0.53 per share, excluding non-recurring items, $0.05 better than the S&P Capital IQ Consensus of $0.48; revenues rose 19.5% year/year to $889.4 mln vs the $862.54 mln S&P Capital IQ Consensus.
- Co announced that its Board of Directors has authorized a new program to repurchase up to $500 million of its common stock, replacing the previous targeted repurchase plan.
Ciena in slides issues new long-term targets; co expects revenue growth of approx. 6-8% annually and EPS growth over 20% annually over the next 3 years
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