Is Infinera's Cyclical Turnaround Finally Here?

Infinera's (NASDAQ: INFN) stock recently rose after the optical systems provider posted its third-quarter earnings. Its GAAP revenue rose 62% annually to $325.3 million, as its non-GAAP revenue -- which excludes deferred revenue and charges from its takeover of Coriant -- grew 63% to $327.6 million and beat estimates by $0.5 million.

Its GAAP net loss widened from $32.6 million to $84.8 million, and its non-GAAP net loss -- which excludes acquisition-related charges, stock-based compensation, and other one-time expenses -- also widened from $6.7 million to $30.5 million. On a per share basis, its non-GAAP loss of $0.17 matched analysts' expectations.

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Source Fool.com