Lumentum Holdings Inc. (LITE) saw its stock price soar 8.25% in after-hours trading on Tuesday. The significant move followed the release of the company's financial results for the second quarter of fiscal year 2026.
The optical technology firm reported quarterly results that substantially exceeded analyst expectations. Adjusted earnings per share came in at $1.67, beating the consensus estimate of $1.39. Revenue reached $665.5 million, surpassing forecasts of $646.9 million and representing a 65.5% year-over-year increase.
Investors were further encouraged by the company's strong outlook for the current quarter. Lumentum provided Q3 guidance projecting net revenue between $780 million and $830 million, with non-GAAP diluted EPS expected in the range of $2.15 to $2.35. The company highlighted robust demand in its optical circuit switches business, with backlog exceeding $400 million, and significant margin expansion with non-GAAP operating margin growing by over 1,700 basis points compared to the prior year.
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