Why Coherent Stock Popped Today

Shares of Coherent (COHR 16.21%) are up 16.4% as of 12:15 a.m. ET Tuesday after the optical materials and semiconductor specialist announced better-than-expected quarterly results.Improving demand drove Coherent's better-than-feared quarterFor its fiscal second quarter ended Dec. 31, 2023, Coherent's revenue declined 17.4% year over year to $1.13 billion, translating to adjusted (non-GAAP) earnings of$86.4 million, or $0.36 per share (down from$0.95 per share a year earlier). Analysts, on average, were on ...