Lumentum’s quarterly revenue falls 24.2% sequentially due to customer inventory digestion

What happened

Lumentum reported fiscal Q3 revenue of $383.4m, a 24.2% sequential decline and below its $430-460m guidance. The shortfall is attributed to customer inventory digestion, indicating a pause in new orders. Bearish: This signals ongoing demand weakness in telecom and datacom optical components, pressuring pricing and near-term trading sentiment.

Impact and signal

Affected components and suppliers

Source and time

Source: Semiconductor Today · 5/26/2023 · View original source