Citing robust networking demand and improved IC supply, Lumentum reported net revenue for its fiscal second quarter of 2023 of $506.0 million, up 13% year-over-year, with a GAAP net loss of $31.7 million, or $0.46 loss per diluted share. Net revenue for the fiscal first quarter of 2023 was $506.8 million, with GAAP net loss of $0.4 million, or $0.01 loss per diluted share. Net revenue for the fiscal second quarter of 2022 was $446.7 million, with GAAP net income of $56.7 million, or $0.75 per diluted share.
Non-GAAP net income for the fiscal second quarter of 2023 was $104.1 million, or $1.52 per diluted share. Non-GAAP net income for fiscal first quarter of 2023 was $119.2 million, or $1.69 per diluted share. Non-GAAP net income for the fiscal second quarter of 2022 was $120.2 million, or $1.60 per diluted share.
"Our second quarter financial and operational performance was very strong, led by robust demand from our Telecom and Commercial Lasers customers. Non-GAAP operating margin and Non-GAAP earnings per share were both above the high end of our guidance range with revenue above the midpoint," said Alan Lowe, President and CEO. "These results reflect structural improvement in the long-term operating costs of the company, as we continue to execute on our synergy plan."
