Viavi Solutions Inc. has announced its financial results for the second quarter, revealing a decline in profits compared to the previous year, yet surpassing Wall Street forecasts. The company reported a profit of $9.1 million, equivalent to $0.04 per share, which is a decrease from last year's $10.7 million, or $0.05 per share.
On an adjusted basis, excluding special items, Viavi Solutions Inc. achieved earnings of $29.4 million, translating to $0.13 per share for this period. Market analysts had projected earnings of $0.09 per share, excluding special items, indicating a positive surprise.
Revenue for the quarter increased by 6.4% to reach $270.8 million, up from $254.5 million in the corresponding period of the previous year.
A summary of Viavi Solutions Inc.'s earnings under generally accepted accounting principles (GAAP) is as follows:
- Earnings: $9.1 million compared to last year's $10.7 million.
- Earnings Per Share (EPS): $0.04 versus last year's $0.05.
- Revenue: $270.8 million compared to $254.5 million last year.
Looking ahead, the company has provided guidance for the next quarter, forecasting an EPS range of $0.10 to $0.13 and revenue between $276 million and $288 million.
