[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"content-doc-dcio1527df82":3},{"user":4,"document":8,"mainDocument":27,"columnUrl":29,"subscription":30,"footer":42,"text":80},{"isAuthenticated":5,"isAdmin":5,"displayName":6,"avatarUrl":6,"nid":6,"groupLevel":7},false,"",-10,{"id":9,"fullTitle":10,"subTitle":6,"url":11,"columnId":12,"columnName":13,"columnUrl":14,"summary":6,"contentHtml":15,"mainContentHtml":6,"posterUrl":16,"createDate":17,"displayDate":18,"displayDateSlash":19,"pageviews":20,"tags":21,"hidden":5,"isSubContent":5,"replyDocOrTargetId":6,"contentType":23,"videoId":6,"liveVideoUrl":6,"useContentVideo":5,"duration":24,"price":24,"priceText":25,"priceBadgeText":25,"priceBadgeClass":26,"freeForMinGroupLevel":24,"redirectUrl":6,"readyToStream":5},"dcio1527df82","AI光通信强劲需求成增加引擎！Lumentum(LITE)Q4业绩、Q1指引双双超预期","\u002Fdoc\u002Fdcio1527df82","col18178739ee","美股资讯","\u002Fcol\u002Fcol18178739ee","\u003Cp>\n\u003C\u002Fp>\u003Cp>\u003Cspan>美股投资网获悉，在人工智能(AI)光通信需求强劲增长这一势头的推动下，Lumentum(LITE)交出了好于预期的2026财年第四财季业绩及2027财年第一财季指引。\u003C\u002Fspan>\u003C\u002Fp>\n\u003Cp>\u003Cspan>财报显示，Lumentum第四财季营收同比增长109.3%至10.06亿美元，好于分析师平均预期的9.90亿美元。尽管超预期幅度不大，但鉴于该公司所在的光通信赛道已被市场高度关注，能够继续超预期本身仍然具有信号意义。\u003C\u002Fspan>\u003C\u002Fp>\n\u003Cp>\u003Cspan>按业务划分，组件业务营收为6.49亿美元，同比增长102.7%;系统业务营收为3.57亿美元，同比增长122.6%。两大业务营收均实现翻倍，显示需求扩张并非集中在单一产品线。AI数据中心建设带来的不仅是单一器件需求，而是从激光器、光器件到系统级解决方案的整体拉动。\u003C\u002Fspan>\u003C\u002Fp>\n\u003Cp>\u003Cspan>盈利方面，调整后净利润为3.26亿美元，同比增长415%;调整后每股收益为3.23美元，好于分析师平均预期的2.97美元;调整后毛利率为50.4%，同比提升1260个基点，好于分析师平均预期的48.8%;调整后营业利润率为36.6%，同比提升2160个基点。Lumentum盈利模型的快速改善表明，高端光通信产品需求、规模效应和产品组合改善正在共同释放利润杠杆。\u003C\u002Fspan>\u003C\u002Fp>\n\u003Cp>\u003Cspan>值得一提的是，因Lumentum将部分可转换票据转换为股权而产生一笔78亿美元的一次性非现金债务清偿亏损，其第四财季GAAP净亏损为71.62亿美元。\u003C\u002Fspan>\u003C\u002Fp>\n\u003Cp>\u003Cspan>Lumentum首席执行官Michael Hurlston表示，第四次财季业绩展现了广泛的市场进展，关键增长动力——如OCS解决方案和云模块业务也已开始贡献增量。他表示“Lumentum正处于行业变革的核心。随着人工智能计算工作负载的速度和带宽不断提升，数据中心架构师正将光链路作为主要的连接方式。虽然我们第四财季的业绩表明业务已全面增长，但关键的增长驱动因素，例如OCS解决方案和云模块业务(我们正在推进1.6T光模块的采用)，正逐渐显现。对超高功率CPO激光器的需求不断增长、ELS模块的首批订单以及我们在NPO领域的广泛参与，都预示着光技术正开始渗透到机架内连接领域，显著提升了我们的光技术潜在市场规模。”\u003C\u002Fspan>\u003C\u002Fp>\n\u003Cp>\u003Cspan>Lumentum给出的2027财年第一财季指引同样超出预期。该公司预计，第一财季营收为12.25亿美元至12.75亿美元，预测区间中值12.50亿美元高于分析师平均预期的11.50亿美元;预计调整后每股收益为4.05美元至4.35美元，预测区间中值4.20美元高于分析师平均预期的3.58美元。\u003C\u002Fspan>\u003C\u002Fp>\n\u003Cp>\u003Cspan>Michael Hurlston表示“展望未来，随着人工智能需求的推动，我们的发展势头将继续加速，第一财季营收预期中值将达到12.5亿美元，比原计划提前一个多季度实现目标。”\u003C\u002Fspan>\u003C\u002Fp>\n\u003Cp>\u003Cspan>据悉，AI集群规模扩大后，数据中心内部的带宽、功耗和延迟压力快速上升。传统电连接在更高速率、更高密度场景下面临瓶颈，光互联开始从机架间、交换机间连接进一步向机架内、近芯片方向渗透。这也是Lumentum这份财报最具想象力的部分——如果光学需求不再局限于传统数据中心互联，而是进入机架内连接和近封装架构，公司潜在市场空间将被重新评估。不过，Lumentum也用了“初期迹象”这一表述，说明这些方向仍处于早期验证和订单转化阶段。市场后续会重点关注这些CPO、ELS、NPO机会能否从初始订单和项目接洽，转化为可持续的规模化收入。\u003C\u002Fspan>\u003C\u002Fp>\n\u003Cp>\u003Cspan>截至发稿，Lumentum周二美股盘后涨超3%，此前一度跌超4%。这一股价表现表明，市场一方面认可其财报展现出的光通信强劲需求及业绩指引，另一方面也在消化其GAAP巨亏、前期预期偏高和估值压力。\u003C\u002Fspan>\u003C\u002Fp>\n\u003Cp>\u003Cspan>最专业的美股资讯,推荐美股大数据 \u003Ca href=\"https:\u002F\u002FStockwe.com\u002F\">https:\u002F\u002FStockwe.com\u002F\u003C\u002Fa>\u003C\u002Fspan>\u003C\u002Fp>\n\u003Cp>\u003Cspan>如何识别美股市场异常波动？美国机构主力资金买卖情况，出货和吸筹，使用美股投资网VIP会员，2008年成立于美国硅谷，由前纽约证券交易所分析师Ken创立，联合多位摩根斯坦利分析师，谷歌 Meta工程师利用AI和大数据，配合十多年美股实战经验和业内量化模型，建立了一个股市数据库 \u003Ca href=\"https:\u002F\u002FStockWe.com\u002F\">https:\u002F\u002FStockWe.com\u002F\u003C\u002Fa> 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buy@TradesMax.com 美国电话 626-378-3637","公司介绍","\u003Cp class=\"MsoNormal\">美股大数据 \u003Ca href=\"https:\u002F\u002Fstockwe.com\" rel=\"noopener\">StockWe.com\u003C\u002Fa> 是一个美国领先的金融和美股信息大数据提供商，紧盯华尔街金融市场和行情，2008年成立于美国硅谷，创始人是前纽约证券交易所资深分析师Ken，联合多位摩根斯坦利分析师，谷歌 Meta工程师利用AI和大数据，配合十多年美股实战经验和业内量化交易模型，每天处理海量股票数据：挖掘潜力大牛股，捕捉期权异动大单，实时主力资金流向、机构持仓变化、川普突发新闻，美股买卖信号第一时间发到您手机APP。\u003C\u002Fp>","专业美股投资者都在这里",{"loading":81,"search":82,"searchPlaceholder":82,"hotContent":83,"draft":84,"noData":85,"searchNoData":86,"courseContent":87,"more":88,"buyNow":89,"subscribeNow":90,"encoding":91,"paidContent":92},"Loading...","搜索","热门内容","草稿","目前没有任何内容公布","当前检索内容没有数据","课程内容","更多","立即购买后观看","- 立即订阅 -","视频编码中...","付费内容"]