Companies /Technology

Coherent Corp

NYSE: COHR Scientific & Technical Instruments
$279.20
▼ $16.19 (−5.48%) today
Markets closed · 11:03pm ET

Q3 2025 Earnings

Reported May 7, 2025, 4:05pm ET · SEC source
$0.91
Beat +5.81%
EPS · est. $0.86
$1.5B
Beat +3.97%
Revenue · est. $1.4B
+9.5%
Beating market
COHR vs S&P since report
4 quarters
Consecutive EPS beats

Market Reaction

% change · around the report
−4%0+4%May 7May 8report 4:05pm ETearnings+0.7%+1.7%
−4%0+4%May 7May 8earnings+0.7%+1.7%
COHR +1.7%S&P 500 +0.7%
−4%0+4%May 7May 8report 4:05pm ETearnings+1.1%+1.7%
−4%0+4%May 7May 8earnings+1.1%+1.7%
COHR +1.7%NASDAQ +1.1%
0+6%+12%+18%May 6May 15report 4:05pm ETearnings+5.2%+16.0%
0+6%+12%+18%May 6May 15earnings+5.2%+16.0%
COHR +16.0%S&P 500 +5.2%
0+6%+12%+18%May 6May 15report 4:05pm ETearnings+7.3%+16.0%
0+6%+12%+18%May 6May 15earnings+7.3%+16.0%
COHR +16.0%NASDAQ +7.3%
+1.39%
Day of report
−0.03%
Next session
+11.66%
One week
+16.19%
30 days

S&P 500 over the same 30 days: +6.73%.

Did COHR Beat Earnings? Q3 2025 Results

Coherent delivered a standout fiscal third quarter, posting non-GAAP diluted EPS of $0.91 against a consensus estimate of $0.8566 — a 6.23% beat — while revenue of $1.50 billion topped expectations by 3.97% and climbed 23.9% year-over-year, marking a new quarterly record for the company. The engine behind the results was unmistakably AI infrastructure: Coherent's Networking segment generated $897.30 million in revenue, up 45% year-over-year, as hyperscalers continued pouring capital into optical interconnects for data center buildouts. Non-GAAP operating income nearly doubled to $279.30 million from $151.90 million a year ago, reflecting meaningful margin expansion even as $73.80 million in restructuring charges weighed on GAAP results. CEO Jim Anderson — recently named the highest-paid CEO in the U.S. — also highlighted the company's geographically diverse supply chain as a buffer against tariff-related uncertainty. Looking ahead, management guided Q4 revenue of $1.43 billion to $1.57 billion with non-GAAP EPS of $0.81 to $1.01, signaling confidence in sustained demand from AI-driven customers.

Key Takeaways
  • Strong AI-related datacenter demand driving record revenue
  • Networking segment revenue grew 45% Y/Y to $897.3 million
  • Non-GAAP gross margin expanded 490 bps Y/Y to 38.5%
  • Datacenter and communications market represented 46% of revenue with 46% Y/Y growth
  • Revenue growth and gross margin expansion drove significant Y/Y EPS improvement

“We delivered strong growth and profitability in the March quarter with record revenue driven by another quarter of strong AI-related datacenter demand. We also introduced many new industry-leading optical networking products and technologies during the past quarter which position us well for long-term growth.”

Coherent CEO, on the earnings call

Forward Guidance & Outlook

For Q4 fiscal 2025, Coherent expects revenue of $1.425 billion to $1.575 billion, non-GAAP gross margin of 37% to 39%, non-GAAP operating expenses of $290 million to $310 million, non-GAAP tax rate of 21% to 24%, and non-GAAP EPS of $0.81 to $1.01.

COHR YoY Financials

Q3 2025 vs Q3 2024 · SEC filings Q3 2024 Q3 2025
$0$500.0M$1.0B$1.5B$1.2B$1.5BRevenue$366.5M$527.7MGross Profit$33.8M$71.8MOperating Income$4.9M$15.7MNet Income
$0$500.0M$1.0B$1.5BRevenueGross ProfitOperating IncomeNet Income

COHR Revenue by Segment

Datacenter & Communications
Networking$897.3M+45.0%
Datacenter and Communications
Industrial
Industrial (market)
Lasers$363.9M
Materials$236.7M
Instrumentation

COHR Revenue by Geography

North America
Japan
Europe
China
Rest of World

Figures from SEC filings and company reports. Not investment advice.