Nvidia Partnership Lifts Lumentum to New Heights

Lumentum Holdings (LITE) reported strong quarterly results for fiscal year 2022 Q4, exceeding expectations with revenue of $1.006 billion and a 109% year-over-year increase.

The company's adjusted earnings per share (EPS) jumped by 267% to $3.23, surpassing analyst consensus estimates.

Lumentum expects another sequential revenue increase for fiscal year 2023 Q1, guiding to revenue of approximately $1.25 billion, which would represent a 24% jump from the previous year.

Nvidia's recent $2 billion investment in Lumentum and their technology partnership has further solidified the company's position in the market.