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Lumentum: Fiscal Q3 Earnings Snapshot
By AP News - May 09, 2023, 07:51 AM ET
Last Updated - Jun 21, 2023, 09:39 PM EDT
SAN JOSE, Calif. (AP) — SAN JOSE, Calif. (AP) — Lumentum Holdings Inc. (LITE) on Tuesday reported a loss of $39.3 million in its fiscal third quarter.
On a per-share basis, the San Jose, California-based company said it had a loss of 57 cents. Earnings, adjusted for one-time gains and costs, came to 75 cents per share.
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The results fell short of Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 83 cents per share.
The optical networking products maker posted revenue of $383.4 million in the period, which also fell short of Street forecasts. Six analysts surveyed by Zacks expected $393.1 million.
For the current quarter ending in June, Lumentum expects its per-share earnings to range from 45 cents to 65 cents.
The company said it expects revenue in the range of $350 million to $380 million for the fiscal fourth quarter.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a LITE">Zacks stock report on LITE at https://www.zacks.com/ap/LITE
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