Viavi Solutions Inc.
Viavi Solutions Reports Fiscal Q2 2024 Results: Revenue Down, GAAP EPS Up
Summary
Viavi Solutions Inc. reported preliminary results for the second quarter of fiscal 2024, showing a 10.5% decrease in net revenue to $254.5 million compared to the same period last year. Despite the decline in revenue, GAAP diluted earnings per share (EPS) increased by 25% to $0.05, surpassing the high end of the guidance range. Non-GAAP diluted EPS declined by 21.4% to $0.11. The company also highlighted strong demand for 400G/800G Fiber, Mil/Aero, and SE products, which helped offset continued weakness in Service Provider spend. For the third quarter of fiscal 2024, Viavi expects net revenue between $245 million to $253 million and non-GAAP EPS between $0.05 to $0.09.
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About Viavi Solutions Inc.
Viavi Solutions Inc. is a leading global provider of network test, monitoring, and assurance solutions for communications service providers, enterprises, and network equipment manufacturers. With a diverse product portfolio, the company plays a critical role in enabling the smooth operation and optimization of networks worldwide. Viavi's offerings include advanced fiber optic testing solutions, wireless RF performance tools, and network performance monitoring software. These products are crucial in sectors such as telecommunications, aerospace & defense, and manufacturing, where they help ensure the reliability and efficiency of complex networks. Founded in 1923 and headquartered in San Jose, California, Viavi has established a significant presence in the market, known for its innovation and expertise in network testing tools. The company's solutions are instrumental in addressing the demands of rapid technological advancements and the growing need for high-speed, reliable connectivity. With the evolution of networks towards 5G and beyond, Viavi Solutions Inc. remains at the forefront, providing essential technologies that support the deployment and maintenance of next-generation communications infrastructure.
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