Why Lumentum Holdings Stock Skyrocketed by Nearly 24% on Wednesday

Core Insights - Lumentum Holdings reported strong quarterly earnings, exceeding analyst expectations and showing significant growth in revenue and net income [1][2][3] Financial Performance - For the first quarter of fiscal 2026, Lumentum achieved net revenue of approximately $534 million, a 58% increase compared to the same period in fiscal 2025 [2] - Non-GAAP net income rose by 36% to $86.4 million, translating to $1.10 per share [2] - The company surpassed analyst estimates of $526 million in revenue and $1.03 in non-GAAP net income [3] Future Guidance - Lumentum provided guidance for the second quarter, projecting net revenue between $630 million and $670 million, and adjusted earnings per share ranging from $1.30 to $1.50 [4] - These forecasts are significantly higher than current analyst estimates of $561.9 million in revenue and $1.17 per share [4] Market Reaction - Following the earnings report, Lumentum's stock surged nearly 24%, outperforming the S&P 500's 0.4% increase [1]