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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NEUTRAL IMPACT
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.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100