Shares of Lumentum Holdings gained after the company beat Wall Street expectations in its fiscal fourth quarter.
The stock rose 17.4% to $53.44 in after-hours trading on Wednesday. Shares ended the regular session 1.5% lower at $45.53, putting them down 13% since the beginning of the year.
The San Jose, Calif.-based provider of optical and photonic products loss widened to $252.5 million, or $3.72 a share, in its three months ended June 29, from a loss of $60.2 million, or 88 cents a share, in last year's quarter.
Adjusted per-share earnings were 6 cents, beating analysts' forecast of 2 cents.
Revenue fell 17% to $308.3 million but came in ahead of the $301.4 million that analysts polled by FactSet expected.
For its first quarter of fiscal 2025, Lumentum expects revenue between $315 million and $335 million and adjusted earnings between 7 cents and 17 cents a share. Analysts expect first-quarter revenue of $311.4 and adjusted per-share earnings 12 cents.
Chief Executive Alan Lowe said the company is expanding its cloud and artificial intelligence customer bases, which will lead to accelerated growth in the coming calendar year.
