Shares of Lumentum Holdings Inc. (NASDAQ: LITE) skyrocketed over 15% on Tuesday after the optical communications company reported stellar first-quarter fiscal 2025 earnings results that surpassed Wall Street expectations.
For the quarter ended September 30, 2024, Lumentum posted adjusted earnings per share of $0.18, beating the consensus analyst estimate of $0.12 by a staggering 50%. The company's revenue of $336.9 million also exceeded the projected $324.98 million, marking a 3.67% upside surprise.
The strong financial performance was fueled by robust demand for Lumentum's products and effective cost management strategies. Analysts are bullish on the company's prospects, citing the increasing adoption of optical technologies across various industries, including telecommunications and data centers.
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