India, Nov. 2 -- Lumentum Holdings, Inc. (LITE), a communication technology company, reported earnings for its first quarter that soared on higher revenues compared to the last year. The company also provided its guidance for the second quarter of fiscal 2027.
Separately, Lumentum has agreed to be acquired by Marvell Technology Inc. (MRVL) in a deal valued at $115 billion or $1,132 per share for its common shares. In the pre-market shares were down 52.19 points or 6.21 percent at 788.51.
The company's net income for the first quarter totaled $360.3 million, or $3.54 per share, compared to $4.2 million, or $0.05 per share, last year.
Adjusted earnings for the quarter were $461.1 million or $4.57 per share, up from the prior year quarter's...