Lumentum Earnings Clear Estimates as Sales More than Double
Dow Jones
Aug 12
Lumentum Holdings blew past earnings expectations after the closing bell on Tuesday, continuing the optical-networking company's blazing hot run.
The strong results provide further evidence that optical technologies, which connect infrastructure within and between data centers, have become a crucial part of the artificial-intelligence boom.
Lumentum posted adjusted earnings of $3.23 a share for its fiscal fourth quarter, up from 88 cents a year ago and above analysts' consensus estimates of $2.97. Revenue soared 109% from a year ago to $1.01 billion, ahead of Wall Street's call for $988 million.
The stock slipped 0.4% to $817 in after-hours trading, perhaps reflecting heightened expectations leading into the earnings print.
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