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Coherent and Lumentum top AI optics earnings, but one stock falls
Coherent reported $2.05 billion in quarterly revenue, above $1.99 billion expected, but its shares slid 4% in extended trading.
Coherent Corp. (NYSE: COHR) beat fourth-quarter earnings estimates and forecast first-quarter revenue and profit above expectations, but its shares fell 4% in extended trading after the results. The AI optics maker is tied to data center buildouts, and CEO Jim Anderson said the company is entering fiscal 2027 with exceptional customer demand and plans to expand production capacity.
Coherent’s data center and communications segment generated $1.62 billion in revenue, up from $1.02 billion a year earlier, while total quarterly revenue rose to $2.05 billion, beating analysts’ $1.99 billion estimate. For the first quarter, Coherent forecast revenue of $2.2 billion to $2.4 billion, above the $2.14 billion modeled by analysts.
Despite the beat, Coherent’s industrial business segment revenue fell 16% during the quarter, and the company reported sharply lower full-year operating cash flow. Yahoo Finance also noted Coherent shares had climbed nearly 93% for the year heading into the report, with the stock falling anyway.
Lumentum Holdings (NASDAQ: LITE), a rival optical components supplier, reported results a day earlier and guided first-quarter revenue with a midpoint of $1.25 billion, reaching its long-term target model a quarter ahead of schedule, according to Yahoo Finance. Lumentum’s non-GAAP fourth-quarter net income was $326.3 million, or $3.23 per diluted share, compared with $63.3 million a year earlier, while it recorded a GAAP net loss of $7.2 billion driven largely by a one-time $7.8 billion non-cash loss tied to converting some convertible notes into equity.
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