Lumentum Guides Q2 Revenue to $1.58B-$1.63B, a Sharp Step Up From Q1
LITE has more than doubled off its 52-week low of $184.2.
Summary
Lumentum guided fiscal Q2 revenue to $1.58B-$1.63B, a big jump from the $1.26B in Q1 revenue it just reported, with Q2 growth forecast at about $350M. Q1 results included EPS of $3.54, adjusted EPS of $4.57 and net income of $360.3M, and the company sees Q2 adjusted EPS of $5.90-$6.20. That fits the backdrop: CEO Michael Hurlston said in October the company is nearly sold out of optoelectronic parts through 2029, and GF Securities projects Nvidia-driven CPO/NPO revenue scaling from about $928M in 2027 to over $3.3B later. Marvell and Lumentum have now agreed to combine, creating a category leader in AI connectivity, so the numbers raise the bar for the price of the combination. Watch for the formal Q2 release and the terms of the combination.
At the time of this announcement, LITE was trading at $862.00 on NASDAQ in the Technology sector, with a market capitalization of approximately $76.2B. The 52-week trading range was $184.20 to $1,143.00. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: Dow Jones Newswires.