Viavi Solutions (NASDAQ: VIAV) reported Q2 EPS of $0.22, $0.06 better than the analyst estimate of $0.16. Revenue for the quarter came in at $306.9 million versus the consensus estimate of $281.11 million.

• Second quarter of fiscal 2019 net revenue was $306.9 million. GAAP net income was $15.4 million, or $0.07 per share. Non-GAAP net income was $50.9 million, or $0.22 per share.
• First quarter of fiscal 2019 net revenue was $268.5 million. GAAP net loss was $(15.3) million or $(0.07) per share. Non-GAAP net income was $35.2 million, or $0.15 per share.
• Second quarter of fiscal 2018 net revenue was $205.4 million. GAAP net loss was $(1.1) million, or $0.00 per share. Non-GAAP net income was $22.8 million, or $0.10 per share.

"VIAVI delivered its strongest financial performance quarter with record revenue, non-GAAP operating margin and non-GAAP EPS in fiscal Q2," said Oleg Khaykin, VIAVI's President and Chief Executive Officer. "Both NSE and OSP business segments exceeded our expectations, driven by strong year-end demand for our core product lines, a recovery in North American service provider spend and greater than expected demand in our key growth areas of 5G wireless and Fiber."

Khaykin added, "Looking ahead, we expect to see a typical seasonal spend decline in fiscal Q3 from North American service providers and consumer electronics customers. Seasonality aside, we expect continued strong performance in our key growth areas of 5G Wireless, 3D Sensing and Fiber throughout the calendar year 2019."

GUIDANCE:

Viavi Solutions sees Q3 2019 EPS of $0.11-$0.13, versus the consensus of $0.12. Viavi Solutions sees Q3 2019 revenue of $247-267 million, versus the consensus of $256.61 million.

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