Lumentum reports Q2 EPS 42c, consensus 36c

Reports Q2 revenue $402.2M, consensus $391.0M. “In the second quarter, we exceeded the high end of our guidance ranges for both revenue and earnings per share, driven by strong demand in the cloud end market. This is an exciting time for Lumentum (LITE) as we position ourselves to capitalize on expanding cloud opportunities and the recovery of the broader networking market. Our foundational technologies enable us to win in these markets,” said Alan Lowe, President and CEO. “With our strong market position and improving industry trends, we remain confident in achieving our previously stated goal of reaching $500 million in quarterly revenue by the end of calendar year 2025. On a personal note, serving as Lumentum’s President and CEO over the last decade has been the highlight of my career, and I am deeply grateful to our talented team for their dedication. I look forward to continuing my role on the Lumentum Board and serving as an advisor to ensure a smooth transition to Michael Hurlston.”