Lumentum Beats Estimates With $1.26 Billion Revenue and $4.57 Adjusted EPS

Lumentum Holdings Inc. (Nasdaq: LITE) reported fiscal first-quarter revenue of $1.26 billion, above the $1.25 billion analysts expected, and adjusted earnings of $4.57 a share against the $4.22 consensus estimate, in an 8-K filed Monday, Nov. 2, 2026.

Revenue rose 136.5% from $533.8 million a year earlier and 25.5% from the fourth quarter. GAAP net income was $360.3 million, or $3.54 per diluted share, compared with $4.2 million, or $0.05, a year earlier.

Products and margins

Systems revenue reached $508.4 million, up 228.8% from a year earlier, while components rose 98.9% to $754.2 million. Non-GAAP gross margin was 53.2%, up from 39.4%, and non-GAAP operating margin was 42.3%, up from 18.7%.

Business highlights

President and CEO Michael Hurlston said the company secured its second major NPO/CPO win, backed by purchase commitments exceeding $5 billion. He also said demand visibility for optical circuit switches has expanded significantly.

Cash, cash equivalents and short-term investments totaled $2.0 billion at quarter end, a decrease of $758.8 million from the end of the fourth quarter.

Outlook

For the fiscal second quarter, Lumentum expects net revenue of $1.575 billion to $1.625 billion, a non-GAAP operating margin of 45.0% to 46.0%, and non-GAAP diluted EPS of $5.90 to $6.20. Analysts expected next-quarter revenue of $1.48 billion and EPS of $5.08.

Shares closed at $840.70 on Friday, Oct. 30, the last close before the filing, giving the company a market value of about $75.41 billion.