Lumentum’s quarterly revenue falls due to inventory correction at networking customers

What happened

Lumentum reported fiscal Q1 2024 revenue of $317.6M, down 14.3% sequentially and 37.3% year-over-year, though slightly above guidance. The decline was primarily driven by an ongoing inventory correction among its networking equipment customers. Bearish: This signals continued weak near-term demand for optical components, pressuring prices as customers work down stockpiles.

Impact and signal

Affected components and suppliers

Source and time

Source: Semiconductor Today · 12/18/2023 · View original source