SAN JOSE, Calif. - Lumentum Holdings Inc . (NASDAQ:LITE) saw its shares jump 16% in aftermarket trading Thursday after the optical and photonic products manufacturer reported better-than-expected fiscal first quarter results and issued upbeat guidance.
The company posted adjusted earnings of $0.18 per share for the quarter ended September 28, surpassing the analyst consensus estimate of $0.12. Revenue came in at $336.9 million, exceeding expectations of $325.04 million and rising 6.1% year-over-year.
Lumentum's CEO Alan Lowe noted strong demand for datacom laser chips, including substantial 200G EML orders from multiple customers, including an AI infrastructure customer. He stated, "We expect double-digit sequential revenue growth in the second quarter."
For the fiscal second quarter, Lumentum forecasts adjusted earnings per share between $0.30 and $0.40, above the $0.28 consensus. The company expects revenue in the range of $380 million to $400 million, also topping analyst projections of $355.8 million.
Lumentum's non-GAAP gross margin held steady at 32.8% compared to the same quarter last year. The company ended the quarter with $916.1 million in cash and investments, up $29.1 million from the previous quarter.
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