Lumentum Q3 Net Loss Narrows to $265M as Strategic Revenue Rises 10%

Cointime reports: Lumentum reported a third-quarter net loss of $265 million, narrowing from $621 million a year earlier, on revenue of $2.715 billion. Strategic revenue grew 10% year over year to $1.28 billion, taking 55% of total revenue versus 53% in the second quarter. Adjusted EBITDA came in at $715 million, down from $787 million a year earlier, and the CFO said the company still expects an adjusted EBITDA inflection point this year.