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Why Ciena (CIEN) Stock Continues to Soar Today

NEW YORK (TheStreet) -- Ciena (CIEN) shares are surging 12.84% to $20.04 on Thursday afternoon, extending earlier gains after the telecom-equipment maker posted strong fiscal 2016 second quarter results this morning.

Earnings for the recent period came in at 34 cents a share, exceeding estimates of 27 cents a share. The year prior, the company reported a profit of 35 cents a share.

Revenue rose 3.1% year-over-year to $640.7 million, beating projections of $630.74 million.

Overall, results were helped by the company's investments, as it has been working on diversifying its business.

It expects sales for the current quarter to be between a range of $655 million to $685 million, compared to analysts' projections of $664...


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