Lumentum forecasts quarterly revenue above estimates on AI-driven demand

May 5 (Reuters) - Lumentum ‌Holdings forecast ​quarterly ​revenue above Wall Street expectations on Tuesday, betting on strong demand for ‌its high-speed optical components that are crucial ⁠for artificial intelligence infrastructure.

• The company has been a ‌beneficiary of massive capital ‌spending by cloud giants on AI infrastructure. Its equipment is critical for transmitting vast amounts ​of data at high speeds between servers in data center networks.

• Lumentum designs ⁠and makes photonic products, including high performance lasers and optical components.

• ​It expects revenue between $960 million and $1.01 billion in the fourth quarter, compared with ​analysts' average estimate of $908.3 ‌million, according to data compiled by LSEG.

• Adjusted profit is expected to ⁠be between $2.85 and $3.05 per share. Analysts expect $2.68 per share.

• Analysts have said that strong demand is ⁠outstripping supply for critical components like lasers, with customers entering ​into longer-term agreements to secure their supply.

• The results come after Lumentum was added to the S&P 500 ‌in March.

• In the third quarter, revenue rose 90.1% to $808.4 million, ‌beating estimates of $804.3 million. The company reported an ⁠adjusted profit of $2.37 ‌per share, compared ​with estimates of $2.29 per share.

(Reporting by Anhata Rooprai in Bengaluru; Editing by Sahal ‌Muhammed)

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