Lumentum Holdings Q3 2024 Adj EPS $0.29 Beats $0.26 Estimate, Sales $366.500M Beat $365.081M Estimate
Portfolio Pulse from Benzinga Newsdesk
Lumentum Holdings (NASDAQ:LITE) reported Q3 2024 earnings of $0.29 per share, surpassing the $0.26 estimate, with sales of $366.5M also beating the $365.081M estimate. However, this represents a 61.33% decrease in earnings and a 4.41% decrease in sales from the same period last year.
May 06, 2024 | 8:10 pm
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Lumentum Holdings reported higher than expected Q3 2024 earnings and sales, with EPS at $0.29 and sales at $366.5M, beating estimates.
Beating both earnings and sales estimates typically has a positive short-term impact on a company's stock price. However, the significant year-over-year decline in both earnings and sales might temper investor enthusiasm, suggesting a cautious optimism.
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