Coherent Looks to Root Recovery in AI, Datacom, and Display Tech
SANTA CLARA, Calif., Nov. 8, 2023 — Coherent posted its first-quarter financial results for fiscal year 2024, posting $1.05 billion in revenue, representing a decrease of 13% sequentially and 22% year-over-year. The results, Coherent said in a letter to shareholders, extended the recent downward trend in non-GAAP gross and operating margin, though the company said it expects that the quarter will mark the low point for both metrics. The overall figures represented a loss of $67.5 million, as the company cited near-term