Shares of Lumentum Holdings Inc. (NASDAQ: LITE) surged over 16% in after-hours trading on Tuesday after the company reported better-than-expected financial results for the first quarter of fiscal 2025.
The optical communications company reported adjusted earnings per share of $0.18 for the quarter, surpassing analysts' consensus estimate of $0.12. Lumentum's revenue for the quarter also exceeded expectations, coming in at $336.9 million, compared to the estimated $325 million.
The company's strong performance in the first quarter was driven by robust demand for its products and effective cost management strategies. Analysts are optimistic about Lumentum's prospects, citing the increasing adoption of optical technologies in various industries, including telecommunications and data centers.
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