11:50 AM EST, 12/12/2024 (MT Newswires) -- (Updates with the stock price movement in the headline and the first paragraph.)

Ciena (CIEN) shares were up 12% in recent trading on Thursday after the company reported fiscal Q4 revenue ahead of market expectations.

The company reported fiscal Q4 adjusted net income of $0.54 per diluted share, down from $0.75 a year earlier.

Analysts polled by FactSet expected $0.65.

Revenue for the quarter ended Nov. 2 was $1.12 billion, down from $1.13 billion a year earlier.

Analysts surveyed by FactSet expected $1.10 billion.

Price: 82.03, Change: +8.82, Percent Change: +12.05