Lumentum Holdings Inc. (NASDAQ:LITE) reported better-than-expected earnings for the fourth quarter on Tuesday.
The company posted quarterly earnings of 88 cents per share which beat the analyst consensus estimate of 80 cents per share. The company reported quarterly sales of $480.700 million which beat the analyst consensus estimate of $465.756 million.
Lumentum Holdings said it sees first-quarter adjusted EPS of 95 cents to $1.10 and sales of $510.000 million to $540.000 million.
“In our fiscal fourth quarter, we executed exceptionally well in meeting robust demand across our portfolio of cloud products supporting AI data centers,” said Michael Hurlston, Lumentum President and CEO. “This solid performance, combined with sustained customer demand, drove our Q4 revenue above the high end of the upwardly revised guidance we provided in early June. The outperformance was broad-based across our cloud-focused business, with particular strength in components, specifically EML chips, pump lasers, and narrow linewidth laser assemblies …