Lumentum (LITE) Soars to All-Time High on Strong Earnings

Core Insights - Lumentum Holdings Inc. (NASDAQ:LITE) achieved a new all-time high stock price of $507.55, closing at $504.42, marking an 8.35% increase on the day [1] - The company reported a net profit of $78.2 million for the second quarter of fiscal year 2026, a significant turnaround from a loss of $60.9 million in the same period the previous year [2] - Net revenues increased by 65% year-over-year, reaching $665.5 million, surpassing previous guidance [2] Financial Performance - Lumentum's revenues for the third quarter are projected to be between $780 million and $830 million, indicating an expected growth of 83% to 95% compared to $425.2 million in the same quarter last year [4] - The company’s earnings per share and profitability exceeded prior expectations, reflecting strong operational performance [2] Future Outlook - The company anticipates over 85% year-over-year revenue growth, driven by substantial opportunities in optical circuit switches (OCS) and co-packaged optics (CPO) [3] - Lumentum has a backlog exceeding $400 million in OCS and has secured a multi-hundred-million-dollar order in CPO, to be delivered in the first half of calendar 2027 [3]