Coherent (COHR) Stock Rebounds After Q1 Earnings Beat and Strong Guidance

TLDR Coherent (COHR) reported fiscal Q1 revenue of $2.37 billion and adjusted EPS of $2.09, both above estimates. The stock fell about 6% in regular trading, then rose after hours on the results. Datacenter and communications revenue jumped 79% to $1.95 billion. Q2 guidance calls for revenue of $2.55 billion to $2.75 billion and EPS of $2.28 to $2.48. Northland upgraded the stock to Outperform with a $280 price target earlier this week. Coherent (COHR) ended a rough regular session on a better note. The stock fell about 6% during the day, then bounced after the company posted its fiscal first-quarter results . Reports put the after-hours price near $211. Coherent, Inc., COHR The optical networking company beat on both lines for the quarter that ended in September.

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