Lumentum reduces March-quarter revenue guidance from $430-460m to $380-384m

What happened

Lumentum has sharply reduced its fiscal Q3 2023 revenue guidance from $430-460 million to $380-384 million, representing a significant sequential and year-over-year decline. The downward revision is primarily attributed to weaker-than-expected demand from cloud and networking customers. Bearish: This signals a clear demand slowdown in key end-markets, likely leading to increased channel inventory pressure and potential price concessions for related optical components.

Impact and signal

Affected components and suppliers

Source and time

Source: Semiconductor Today · 4/6/2023 · View original source