COHR - Coherent Analysts Raise Their Forecasts After Upbeat Results | Benzinga
Coherent (NYSE: COHR) reported better-than-expected second-quarter financial results on Monday.
The company reported second-quarter sales of $1.131 billion, beating the Wall Street estimate of $1.120 billion. The company reported adjusted EPS of $0.36, beating the analyst consensus of $0.26. Non-GAAP gross profit slumped 25.3% to $407.7 million. Non-GAAP gross margin contracted to 36% from 39.8%, according to data from Benzinga Pro.
"In response to customer demand, we continue to make progress toward expected commercial launch of our 1.6T transceivers and components in the first quarter of fiscal 2025,” the company said.
Coherent expects ...