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COHR / Coherent stock tumbles toward 3-year low after big profit miss, downbeat outlook due to a ‘sudden' deceleration in revenue

Coherent stock tumbles toward 3-year low after big profit miss, downbeat outlook due to a ‘sudden' deceleration in revenue
Shares of Coherent Corp. COHR plunged 12.2% toward a three-year low in premarket trading Wednesday, after the optical components and lasers company reported fiscal third-quarter profit that fell well short of expectations and provided a downbeat outlook as revenue suddenly decelerated. The company swung to a net loss for the quarter to March 31 of $33.5 million, or 24 cents a share, from net income of $31.9 million, or 28 cents a share, in the year-ago period. Read More
Posted: May 10 2023, 06:25
Author Name: Market Watch
Views: 112289

COHR News  

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Coherent Corp shares jumped on Tuesday following the announcement of a substantial $1 billion investment into its silicon carbide business from two Ja more_horizontal


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