Lumentum Holdings Inc. reported its earnings, revealing a net revenue of $308.3 million with a Q1 revenue raise. The company experienced a GAAP operating loss of 43.3% and a non-GAAP operating loss of 0.3%. Despite these losses, Lumentum managed to exceed its guidance midpoints for both revenue and earnings per share (EPS). The GAAP diluted net loss per share was $3.72, while the non-GAAP diluted net income per share was $0.06. The company is making progress in broadening its customer base in the cloud and AI sectors, which is considered a significant development. Additionally, Lumentum received strong orders for datacom chips, although gross margins were a bit light.