Investing.com - Coherent reported on Wednesday fourth quarter earnings that beat analysts' forecasts and revenue that fell short of expectations.
Coherent announced earnings per share of $1.04 on revenue of $1.34B. Analysts polled by Investing.com anticipated EPS of $0.84 on revenue of $1.35B.
Coherent shares are down 16.73% from the beginning of the year , still down 60.09% from its 52 week high of $75.05 set on Tuesday, March 29, 2022.
Coherent shares gained 7.01% in pre-market trade the report.
Coherent follows other major Information Technology sector earnings this month
Coherent's report follows an earnings beat by Apple on Thursday, October 27, 2022, who reported EPS of $1.29 on revenue of $90.1B, compared to forecasts EPS of $1.26 on revenue of $88.76B.
Microsoft had beat expectations on Tuesday, October 25, 2022 with first quarter EPS of $2.35 on revenue of $50.1B, compared to forecast for EPS of $2.32 on revenue of $49.86B.
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