Lumentum Holdings Q1 Adj. EPS $0.35 Beats $0.27 Estimate, Sales $317.60M Beat $312.65M Estimate
Portfolio Pulse from Benzinga Newsdesk
Lumentum Holdings (NASDAQ:LITE) reported Q1 earnings of $0.35 per share, beating the analyst consensus estimate of $0.27 by 29.63%. However, this is a 79.29% decrease from the same period last year. The company also reported quarterly sales of $317.60 million, beating the estimate of $312.65 million by 1.58%, but this is a 37.33% decrease from the same period last year.
November 08, 2023 | 12:32 pm
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Lumentum Holdings reported better than expected Q1 earnings and sales, but both are significantly lower than the same period last year.
While Lumentum Holdings beat Q1 estimates, the significant year-on-year decreases in earnings and sales could potentially offset any positive impact from beating estimates. This could lead to a neutral short-term impact on the stock price.
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