Lumentum's Q4 Results Outpace Estimates, Shares Dip On Subdued Forecast
Portfolio Pulse from Anusuya Lahiri
Lumentum Holdings Inc reported Q4 2023 revenue of $370.8 million, down by 12.2% YoY but beating the consensus of $366.5 million. Adjusted EPS of $0.59 also beat the consensus of 55 cents. However, the company's Q1 FY24 revenue and EPS forecasts are below consensus estimates, which led to a slight dip in its share price.
August 17, 2023 | 1:49 pm
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Lumentum's Q4 results beat estimates, but its Q1 FY24 forecast is below consensus, leading to a slight dip in its share price.
Lumentum's Q4 results were better than expected, which is generally positive for the stock. However, the company's Q1 FY24 forecast is below consensus estimates, which is a negative signal for investors and could lead to a decrease in the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100