US Stock Market Move | Q3 performance guidance exceeds expectations, Lumentum (LITE.US) rises nearly 10% in pre-market trading.

On Wednesday, Lumentum (LITE.US) rose nearly 10% in pre-market trading, expected to open at a new all-time high of 476.52 US dollars. In terms of news, the company achieved revenue of 665 million US dollars in the second quarter ending on December 27 last year, a significant increase of 65% year-on-year, higher than the analyst's average expectation of 652 million US dollars. GAAP earnings per share were $0.89, significantly higher than the analyst's average expectation of $0.49; adjusted earnings per share were $1.67, also higher than the analyst's average expectation of $1.41. For the third quarter of fiscal year 2026, Lumentum expects adjusted earnings per share to range from $2.15 to $2.35, significantly higher than the analyst's average expectation of $1.59. The company expects third-quarter revenue to range from $7.8 billion to $8.3 billion, with a forecast midpoint of $8.05 billion, also far above the analyst's average expectation of $7.07 billion. Lumentum CEO Michael Hurlston said, "Our forward-looking guidance shows revenue growth of over 85%, but we are just at the starting line of two important opportunities - Optical Components and Systems (OCS) and Co-Packaged Optics (CPO). In the OCS space, we are rapidly expanding to meet the huge demand from customers, and currently our backlog orders exceed $400 million. In the CPO space, we have added a new order worth hundreds of millions of dollars, expected to be delivered in the first half of 2027. Our performance continues to highlight our strength in the roadmap of optical components and systems, making us an indispensable key partner for global artificial intelligence leaders."