09:52 AM EDT, 10/02/2024 (MT Newswires) -- Ciena (CIEN) said Wednesday that its board has authorized a $1 billion share buyback program that will begin in fiscal 2025 and run until the end of fiscal 2027.

The amount and timing of the buybacks will depend on various factors, including liquidity, cash flow, stock price, and overall business and market conditions, Ciena said.

Ciena shares were up 2.8% in recent early trading.

Price: 63.17, Change: +1.72, Percent Change: +2.80