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Lumentum Holdings Inc. (NASDAQ: LITE) reported its fiscal fourth-quarter results after Tuesday's closing bell, and the numbers were strong enough to beat analyst expectations on both the top and bottom lines.
Here's a closer look at what the company delivered.
The company posted quarterly earnings of $3.23 per share, beating the consensus estimate of $2.97 by 8.75%, according to market data. Revenue came in at $1.01 billion, surpassing the Street's forecast of $987.89 million and more than doubling the $480.7 million reported in the same period last year.
CEO Michael Hurlston attributed the surge to a fundamental shift in how data centers are being built. "Lumentum is positioned at the heart of a secular industry shift. As AI compute workloads increase in both speed and bandwidth, data center architects are turning to optical links as a primary means of connectivity," he said.
For the current quarter, Lumentum expects adjusted earnings of $4.05 to $4.35 per share, well above the $3.61 analysts were looking for. Revenue is projected to land between $1.23 billion and $1.28 billion, versus the $1.16 billion estimate.
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