Coherent Corp. (COHR) saw its stock surge by 10.99% in after-hours trading on Wednesday, following the release of impressive fiscal second-quarter results and an optimistic outlook.
The company reported fiscal Q2 non-GAAP earnings per share (EPS) of $0.95, significantly outpacing analysts' consensus estimate of $0.69. Revenue for the quarter came in at $1.43 billion, up 27% year-over-year, driven by strong demand for its products, particularly in the AI-related Data Center and Telecom businesses.
Coherent's management also provided an encouraging outlook for the third quarter. The company expects revenue between $1.39 billion and $1.48 billion, with non-GAAP gross margins between 37% and 39%. Additionally, Coherent guided for fiscal Q3 non-GAAP EPS in the range of $0.75 to $0.95, surpassing the consensus estimate of $0.76.
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