Ciena Stock Is Soaring. Earnings Were Strong, and There’s a Big Stock-Buyback Plan.

Ciena banal is trading sharply higher Thursday aft the optical-networking-infrastructure institution posted somewhat better-than-expected results for its fiscal 4th fourth ended Oct. 31. It besides unveiled plans for a ample stock-repurchase program.

For the quarter, Ciena (ticker: CIEN) reported gross of $1.04 billion, up 25.7% from a twelvemonth ago, astatine the precocious extremity of the company’s guidance scope of $1 cardinal to $1.04 billion, and conscionable supra the Wall Street statement forecast astatine $1.03 billion. Non-GAAP profits of 85 cents a...