LITE Q2 2026 Earnings
Reported Feb 3, 2026 at 4:12 PM ET · SEC Source
Q2 26 EPS
$1.67
BEAT +18.57%
Est. $1.41
Q2 26 Revenue
$665.5M
BEAT +2.06%
Est. $652.1M
vs S&P Since Q2 26
+96.2%
BEATING MARKET
LITE +101.3% vs S&P +5.0%
Market Reaction
Did LITE Beat Earnings? Q2 2026 Results
Lumentum delivered a blowout fiscal second quarter for 2026, reporting non-GAAP earnings of $1.67 per share, an 18.57% beat against the $1.41 consensus, while revenue of $665.50 million topped estimates by 2.06% and surged 65.5% year-over-year, cemen… Read more Lumentum delivered a blowout fiscal second quarter for 2026, reporting non-GAAP earnings of $1.67 per share, an 18.57% beat against the $1.41 consensus, while revenue of $665.50 million topped estimates by 2.06% and surged 65.5% year-over-year, cementing the company's status as one of the most compelling plays in AI infrastructure. The engine behind those numbers was relentless demand from cloud and AI datacenter customers for Lumentum's optical and photonic products, with non-GAAP operating margin expanding to 25.2% as volume scale drove powerful operating leverage. Shares hit an all-time high in the wake of the print, with multiple Wall Street firms raising price targets to reflect the company's deepening entrenchment in next-generation optical infrastructure. Looking ahead, management guided fiscal Q3 revenue of $780 million to $830 million, implying better than 85% year-over-year growth, alongside non-GAAP EPS of $2.15 to $2.35, with optical circuit switch backlog already exceeding $400 million and a fresh co-packaged optics order signaling the growth runway is still widening.
Key Takeaways
- • Over 65% year-over-year revenue growth driven by AI and cloud datacenter demand
- • Non-GAAP operating margin expansion of 1,730 basis points year-over-year to 25.2%
- • Revenue hit the high end of guidance range while profitability and EPS exceeded prior guidance
- • Components revenue grew 68.3% YoY; Systems revenue grew 60.1% YoY
- • Business model leverage driving significant profitability expansion
LITE Forward Guidance & Outlook
For fiscal Q3 2026, Lumentum expects net revenue in the range of $780 million to $830 million (implying over 85% year-over-year growth), non-GAAP operating margin of 30.0% to 31.0%, and non-GAAP diluted earnings per share of $2.15 to $2.35. The company highlighted that it is at the starting line for two substantial opportunities: optical circuit switches (OCS), where backlog has exceeded $400 million, and co-packaged optics (CPO), where the company received an incremental multi-hundred-million-dollar order deliverable in first half calendar 2027.
LITE YoY Financials
Q2 2026 vs Q2 2025, source: SEC Filings
LITE Revenue by Segment
With YoY comparisons, source: SEC Filings
“Lumentum delivered a standout second quarter, with over 65 percent year-over-year revenue growth and non-GAAP operating margin expansion above 1,700 basis points. Revenue hit the high end of our guidance range, while profitability and EPS expanded well beyond prior guidance, demonstrating the leverage of our business model.”
— Michael Hurlston, Q2 2026 Earnings Press Release
LITE Earnings Trends
LITE vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
LITE EPS Trend
Earnings per share: estimate vs actual
LITE Revenue Trend
Quarterly revenue: estimate vs actual
LITE Quarterly Results
4 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q2 26 BEAT | $1.41 | $1.67 | +18.57% | $665.5M | +2.06% |
| Q1 26 BEAT | $1.03 | $1.10 | +7.05% | $533.8M | +1.39% |
| Q4 25 BEAT FY | $0.81 | $0.88 | +8.64% | $480.7M | — |
| FY Full Year | $4.78 | $2.06 | -56.94% | $1.65B | +0.87% |
| Q3 25 BEAT | $0.50 | $0.57 | +13.66% | $425.2M | +1.68% |