Viavi Solutions shares are ripping higher today after the company delivered a fiscal third-quarter earnings beat and issued a stronger-than-expected fiscal fourth-quarter outlook. For the quarter ended March 28, 2026, Viavi reported revenue of $406.8 million, up 42.8% year over year, and non-GAAP EPS of $0.27. Management then guided fiscal Q4 revenue to $427 million–$437 million and non-GAAP EPS to $0.29–$0.31, a notable step-up from the revenue and profit levels the market had been modeling.

The quarter showed both growth and operating leverage on an adjusted basis: non-GAAP operating margin reached 21.0% alongside the revenue jump. On a GAAP basis, results were noisier, with GAAP net income of $6.4 million and GAAP diluted EPS of $0.03 as restructuring, amortization, and financing-related items weighed on reported profitability, but the stock reaction suggests investors are prioritizing the acceleration in top-line demand and the upgraded near-term outlook.

The rally raises the bar for execution into the fiscal fourth quarter, where the company is projecting another sequential step-up in revenue and earnings. Investors will focus on whether momentum remains concentrated in data center-related testing and aerospace/defense applications, and whether the company can translate growth into cleaner GAAP profitability and stronger cash generation as restructuring actions and integration work continue.