Lumentum Holdings Inc reports results for the quarter ended June 30 - Earnings Summary

• Lumentum Holdings Inc LITE.OQ reported quarterly adjusted earnings of 88 cents​​ per share for the quarter ended June 30, higher than the same quarter last year, when the company reported EPS of 6 cents. The mean expectation of sixteen analysts for the quarter was for earnings of 80 cents per share. Wall Street expected results to range from 74 cents to 89 cents per share.

• Revenue rose 55.9% to $480.70 million from a year ago; analysts expected $466.37 million.

• Lumentum Holdings Inc's reported EPS for the quarter was $2.96​.

• The company reported quarterly net income of $213.3 million.

• Lumentum Holdings Inc shares had risen by 21.0% this quarter and gained 37.0% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had risen by about 7.2% in the last three months.​

• In the last 30 days, there have been no negative revisions of earnings estimates

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 14 "strong buy" or "buy," 3 "hold" and 1 "sell" or "strong sell." The average consensus recommendation for the communications & networking peer group is also "buy"

• Wall Street's median 12-month price target for Lumentum Holdings Inc is $102.50, about 12.2% below its last closing price of $115.03

This summary was machine generated from LSEG data August 12 at 09:01 p.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)