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What: Shares of JDS Uniphase
So what: Analysts were expecting $423 million in revenue and $0.12 in EPS. The company's adjusted earnings of $0.15 per share, on $439 million in revenue, were more than enough to spark some market optimism. Guidance, while not particularly inspiring, may have at least reassured skittish investors that there aren't yet any fires on the horizon.
Now what: Although adjusted earnings were solid, JDS Uniphase's GAAP results were a bit less than impressive. The company reported a GAAP loss of $0.10 per share, making this the fourth straight negative quarter on a GAAP basis. Without an update on expected earnings, it's tough to say when this trend will turn around, but forward revenue guidance lower on the high end than this quarter's result doesn't give long-term investors cause for a lot of optimism. This pop might turn out to be short-lived.
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Fool contributor Alex Planes holds no financial position in any company mentioned here. Add him on Google+ or follow him on Twitter @TMFBiggles for more news and insights. The Motley Fool has a disclosure policy. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. Try any of our Foolish newsletter services free for 30 days.