Marvell Technology (MRVL.US) completes $115 billion acquisition, Lumentum (LITE.US) releases earnings early: Q1 results beat expectations, next-quarter guidance strong

Zhitong Finance APP has learned that, due to being officially announced for acquisition by Marvell Technology (MRVL.US) on the same day, optical communications device manufacturer Lumentum (LITE.US) moved its fiscal 2027 first-quarter earnings report, originally scheduled for release after the market close on November 5, up to before the U.S. market open on November 2. The earnings report shows that revenue for the quarter was $1.263 billion, a sharp year-over-year increase of 136.5%, slightly above the market expectation of about $1.25 billion; non-GAAP diluted earnings per share were $4.57, above the expected approximately $4.2.