Investing.com - Coherent (NASDAQ:COHR) 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 March 29.
Coherent shares gained 7.01% in pre-market trade following the report.
Coherent follows other major Information Technology sector earnings this month
Coherent's report follows an earnings beat by Apple on October 27, 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 October 25 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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