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Mar 30, 2024
Lumentum Q3 2024 Earnings Report
Lumentum's Q3 2024 financial results were announced, with revenue and EPS exceeding guidance midpoints, driven by record data center revenues, but telecom customer inventory challenges impacted overall performance.
Key Takeaways
Lumentum reported Q3 2024 net revenue of $366.5 million. GAAP net loss was $127.0 million, or $1.88 per diluted share, while non-GAAP net income was $19.6 million, or $0.29 per diluted share. The company is focusing on capitalizing on cloud data center demand and developing new products.
Net revenue for the fiscal third quarter of 2024 was $366.5 million.
GAAP net loss was $127.0 million, or $1.88 per diluted share.
Non-GAAP net income was $19.6 million, or $0.29 per diluted share.
The company held $870.9 million in total cash, cash equivalents, and short-term investments at the end of the fiscal third quarter of 2024.
Forward Guidance
Lumentum expects net revenue to be in the range of $290 million to $315 million and non-GAAP diluted earnings per share of ($0.05) to $0.10 for the fiscal fourth quarter 2024.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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