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Why Ciena Stock Crashed on Tuesday

Rich Smith, The Motley Fool
·2-min read
Why Ciena Stock Crashed on Tuesday

Shares of communications equipment company Ciena (NYSE: CIEN) tumbled 10.2% through 11:55 a.m. ET on Tuesday morning, despite easily beating expectations for fiscal second-quarter earnings. Heading into the quarter ended April 29, analysts had forecast Ciena would earn only $0.61 per share (adjusted for one-time items) on sales of $1.09 billion. In fact, Ciena earned $0.74 per share on sales of $1.13 billion -- thus beating expectations on both the top and bottom lines.

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