Lumentum's Sales Hit a Record, but It Reported a $7.2 Billion Loss

Lumentum sold more than ever last quarter — $1.01 billion — yet reported a $7.2 billion loss for the same period, per its August 11 release. The quarter before, it earned $144.2 million. That gap almost certainly comes from writing down the value of something it owns, not from operations. Think of it like taking a loss on a house. Full details are pending.