Why Lumentum Stock Got Crushed on Wednesday

·2-min read
Why Lumentum Stock Got Crushed on Wednesday

Shares of Lumentum (NASDAQ: LITE) have gotten crushed today, down by 17% as of noon EDT, after the company reported fiscal third-quarter earnings. Lumentum's top-line results and guidance disappointed investors and the company took a hit due to delays in deployments. Revenue in the fiscal third quarter was $419.5 million, which missed the consensus estimate of $434 million.

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