Lumentum’s stock surges after adjusted profit and revenue beats, and upbeat earnings outlook
Shares of Lumentum Holdings Inc.
charged up 5.0% in premarket trading Tuesday, after the optical networking and laser company reported fiscal fourth-quarter earnings that beat expectations and provided an upbeat first-quarter outlook. The net loss for the quarter to June 27 narrowed to $4.6 million, or 6 cents a share, from a loss of $25.8 million, or 34 cents a share, in the year-ago period. Excluding non-recurring items, adjusted earnings per share rose to $1.18 from 91 cent…