Lumentum Holdings Inc. reported net revenue of $336.9 million for the fiscal first quarter of 2025, surpassing its guidance. This represents a 9.3% increase quarter-over-quarter from $308.3 million and a 6.1% increase year-over-year from $317.6 million.
The company achieved non-GAAP net income of $12.2 million, or $0.18 per diluted share, exceeding the high end of its earnings per share guidance. The Cloud & Networking segment was a primary driver, with revenue reaching $282.3 million, marking a 10.8% sequential increase and a 22.9% year-over-year increase.
Lumentum set a new record for datacom laser chip orders, including substantial 200G EML orders, reflecting strong demand from multiple customers, including an AI infrastructure customer. The company also secured an additional hyperscale transceiver customer with a new qualification and initial volume order, with volume production expected to begin in the first half of calendar 2025. For the fiscal second quarter of 2025, Lumentum provided non-GAAP guidance of net revenue between $380 million and $400 million, and diluted earnings per share between $0.30 and $0.40.
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