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Dec 30, 2023
Lumentum Q2 2024 Earnings Report
Lumentum's Q2 2024 financial results were announced, with revenue above guidance midpoint but customer inventory digestion expected to extend through fiscal 2024.
Key Takeaways
Lumentum reported Q2 2024 net revenue of $366.8 million and a GAAP net loss of $99.1 million, or $1.47 per diluted share. Non-GAAP net income was $21.7 million, or $0.32 per diluted share. The company expects customer inventory digestion to extend through the balance of fiscal 2024.
Net revenue for Q2 2024 was $366.8 million.
GAAP net loss was $99.1 million, or $1.47 per diluted share.
Non-GAAP net income was $21.7 million, or $0.32 per diluted share.
Company held $1,224.0 million in total cash, cash equivalents, and short-term investments.
Forward Guidance
Lumentum expects net revenue in the range of $350 million to $380 million for the fiscal third quarter 2024.
Positive Outlook
- Net revenue in the range of $350 million to $380 million
Challenges Ahead
- Non-GAAP operating margin of 2.0% to 5.0%
- Non-GAAP diluted earnings per share of $0.20 to $0.35
Historical Earnings Impact
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Avg. Return Before/After Earnings
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