07:46 AM EST, 03/07/2024 (MT Newswires) -- Ciena (CIEN) reported fiscal Q1 adjusted net income Thursday of $0.66 per diluted share, up from $0.64 a year earlier.

Analysts polled by Capital IQ expected $0.48.

Revenue for the fiscal quarter ended Jan. 27 was $1.04 billion, down from $1.06 billion a year earlier.

Analysts surveyed by Capital IQ expected $1.02 billion.

Ciena shares were down 12% in recent Thursday premarket activity.

Price: 54.5, Change: -7.46, Percent Change: -12.04