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# Lumentum Revenue Jumps 136.5% To $1.26 Billion, And Its CEO Sees Roughly $350 Million More Next Quarter
- URL: https://www.bullished.co/lumentum-revenue-jumps-136-5-to-1-26-billion-and-its-ceo-sees-roughly-350-million-more-d7013bf2/
- Published: 2026-11-02T12:21:46.000Z
- Updated: 2026-11-02T12:21:46.000Z
- Description: Pump lasers and optical circuit switches led the quarter, and the company forecast second-quarter revenue of $1.575 billion to $1.625 billion.
- Author: Matteo Parrino
- Tags: Earnings, LITE, Industry: Technology

[Lumentum](https://www.bullished.co/tag/lite/), which makes optical and photonic products for AI and cloud networks, said first-quarter revenue rose 136.5% from a year earlier to [$1.26 billion](https://www.sec.gov/Archives/edgar/data/0001633978/000162828026068655/lite%5Fex991xq1fy27.htm?ref=bullished.co), led by pump lasers and optical circuit switches. The results, reported Monday in an [8-K](https://www.sec.gov/Archives/edgar/data/0001633978/000162828026068655/lite-20261102.htm?ref=bullished.co), arrive as Bloomberg-reported takeover talks with Marvell hang over the stock.

## Systems revenue more than tripled

Revenue for the quarter ended September 26 was $1,262.6 million, up 25.5% from the prior quarter's $1,006.3 million. Systems, which includes optical modules and circuit switches, brought in $508.4 million, up 228.8% from a year earlier. Components added $754.2 million, up 98.9%.

Standard-accounting net income was $360.3 million, or $3.54 per diluted share, against $4.2 million a year earlier. Adjusted net income was $461.1 million, or $4.57 per share. The adjusted operating margin reached 42.3%, from 36.6% in the prior quarter and 18.7% a year earlier.

A large part of the gap between the two profit measures is stock pay: the company excluded $146.7 million of stock-based compensation and related payroll taxes, including $89.4 million tied to equity award modifications for the retirement of certain executives announced during the quarter. Cash and short-term investments stood at $2.0 billion, down $758.8 million from the end of the fourth quarter.

## A $5 billion commitment and a bigger next quarter

CEO Michael Hurlston said Lumentum secured its second major NPO/CPO win, optical interfaces placed close to AI chips, backed by purchase commitments exceeding $5 billion. He said demand visibility for optical circuit switches has expanded significantly, positioning the product to become a multi-billion-dollar annual revenue stream.

For the second quarter, Lumentum forecast revenue of $1.575 billion to $1.625 billion, an adjusted operating margin of 45.0% to 46.0% and adjusted earnings of $5.90 to $6.20 per share. Hurlston said the company anticipates adding approximately $350 million in sequential growth, "a figure greater than the quarterly revenue of the whole company just two years ago."

## Marvell talks overshadow the print

Bloomberg News reported Wednesday that Marvell and Lumentum were discussing a possible Marvell purchase, with an announcement possible the week of November 2, according to a [MarketWatch account](https://www.morningstar.com/news/marketwatch/20261029166/all-the-reasons-marvell-investors-are-freaking-out-as-lumentum-deal-rumors-swirl?ref=bullished.co). Marvell shares fell about 12% on Thursday while Lumentum rose about 2%.

Evercore ISI analyst Amit Daryanani wrote that clients question why Lumentum would sell, given its commentary that the business is sold out through fiscal 2029.

Lumentum's second-quarter forecast of $1.575 billion to $1.625 billion is the number the market now has to weigh against the Marvell talk.

Learn

- [Item 2.02: results of operations →](https://www.bullished.co/learn/8-k-items-explained/#item-202-results-of-operations)  
From 8-K Items Explained: What Every Item Code From 1.01 To 9.01 Tells You, With Examples

### Sources

- [8-K Filing — Lumentum Holdings Inc. (LITE)](https://www.sec.gov/Archives/edgar/data/0001633978/000162828026068655/lite-20261102.htm?ref=bullished.co) — SEC EDGAR
- [Exhibit lite\_ex991xq1fy27.htm — Lumentum Holdings Inc. 8-K exhibit](https://www.sec.gov/Archives/edgar/data/0001633978/000162828026068655/lite%5Fex991xq1fy27.htm?ref=bullished.co) — SEC EDGAR
- [Lumentum (LITE) Earnings Expected to Grow: Should You Buy?](https://finance.yahoo.com/markets/stocks/articles/lumentum-lite-earnings-expected-grow-130033474.html?.tsrc=rss&ref=bullished.co) — Yahoo Finance
- [LITE's Transceivers Gain From AI Infrastructure Demand: What's Ahead?](https://finance.yahoo.com/technology/ai/articles/lites-transceivers-gain-ai-infrastructure-145900480.html?ref=bullished.co) — Yahoo Finance
- [Lumentum (LITE) Stock Looks Like A Bargain On Its Huge Run](https://finance.yahoo.com/markets/stocks/articles/lumentum-lite-stock-looks-bargain-011016350.html?ref=bullished.co) — Yahoo Finance
- [All the reasons Marvell investors are 'freaking out' as Lumentum deal rumors swirl](https://www.morningstar.com/news/marketwatch/20261029166/all-the-reasons-marvell-investors-are-freaking-out-as-lumentum-deal-rumors-swirl?ref=bullished.co) — morningstar.com
- [Lumentum Shares Jump 135% YTD: Can AI Momentum Sustain the Rally?](https://finance.yahoo.com/technology/ai/articles/lumentum-shares-jump-135-ytd-165400965.html?ref=bullished.co) — Yahoo Finance

### More on Lumentum Holdings

- [Lumentum's Proxy: CEO Pay Is 1,478 Times The Median Worker's, And A $7.76 Billion Debt Charge Drives A Huge Loss](https://www.bullished.co/lumentums-proxy-ceo-pay-is-1-478-times-the-median-workers-and-a-7-76-billion-debt-charge-4316a1a3/)

[All Lumentum Holdings (LITE) coverage →](https://www.bullished.co/tag/lite/)