Ciena reported better-than-expected second-quarter fiscal 2016 results driven by its growing Packet business and strong performance in regions like CALA and APAC that recorded 20% revenue growth. In addition, the company reiterated its guidance for fiscal 2016 amid continuing macroeconomic volatility. Management also sounded positive about its North America business where it expects revenues to grow in double digits in the second half of the current fiscal excluding contribution from AT&T. Also, Verizon project remains a long term growth driver along with, higher number of orders from international customers, its Tier 1 contract wins and strong backlog. However, higher operating expense, intensifying competition and customer concentration continue to be major concerns.