Lumentum Faces Telecom Headwinds: Analysts Adjust FY24 Forecasts Amid Inventory And Demand Challenges
Portfolio Pulse from Lekha Gupta
Analysts have revised their forecasts for Lumentum Holdings Inc (NASDAQ:LITE) following its Q4 FY23 earnings report. The company reported revenue of $370.8 million, down 12.2% Y/Y, beating the consensus of $366.5 million. Adjusted EPS of $0.59 beat the consensus of $0.55. Analysts from Morgan Stanley, Rosenblatt, and Needham have adjusted their revenue and EPS estimates for Q1 and FY24 due to ongoing telecom demand weakness and inventory digestion across the product portfolio.
August 18, 2023 | 3:40 pm
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Lumentum Holdings Inc's Q4 FY23 earnings report has led to analysts revising their forecasts for the company. Ongoing telecom demand weakness and inventory digestion are expected to impact the company's revenue and EPS for Q1 and FY24.
The company's Q4 FY23 earnings report has led to analysts revising their forecasts for the company. This is due to ongoing telecom demand weakness and inventory digestion, which are expected to impact the company's revenue and EPS for Q1 and FY24. This could potentially lead to a decrease in the company's stock price.
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