Ciena earnings rise 42 percent, stock soars

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Ciena Corp. saw its earnings improve 42 percent in the third quarter but fell shorts of meeting analysts’ expectations. The Hanover computer networking company reported earnings of $33.5 million, or 23 cents per share, compared to $23.6 million, or 19 cents per share, in the year-ago period. An 11 percent increase in revenue drove the earnings increase. Revenue came in at $670.6 million, up from $602.9 million last year. While Ciena’s (NYSE: CIEN) earnings represented a substantial increase from…