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Lumentum: Fiscal Q1 Earnings Snapshot
By AP News - Nov 07, 2024, 04:59 PM ET
Last Updated - Dec 16, 2024, 05:34 PM EST
SAN JOSE, Calif. (AP) — SAN JOSE, Calif. (AP) — Lumentum Holdings Inc. (LITE) on Thursday reported a loss of $82.4 million in its fiscal first quarter.
On a per-share basis, the San Jose, California-based company said it had a loss of $1.21. Earnings, adjusted for amortization costs and stock option expense, came to 18 cents per share.
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The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 13 cents per share.
The optical networking products maker posted revenue of $336.9 million in the period, also beating Street forecasts. Seven analysts surveyed by Zacks expected $326.9 million.
For the current quarter ending in December, Lumentum expects its per-share earnings to range from 30 cents to 40 cents.
The company said it expects revenue in the range of $380 million to $400 million for the fiscal second quarter.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on LITE at https://www.zacks.com/ap/LITE
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