Coherent, a photonics company, experienced a nearly 3% decline in after-hours trading despite its adjusted gross margin for the fourth quarter aligning closely with estimates at 40.2%, slightly above the 40% consensus from StreetAccount. However, its guidance for first quarter earnings and revenue was better than analysts had anticipated.
In contrast, Cerebras Systems, an artificial intelligence chip manufacturer, saw its shares drop 14% after reporting second-quarter revenue of $180 million, which was below the $194 million consensus estimate from LSEG.
Similarly, Cisco Systems' shares fell 3% as its adjusted gross margin for the fourth quarter narrowly exceeded expectations at 66.3%, compared to the 66% forecast from StreetAccount. These results highlight the volatility in the tech sector, where earnings reports can lead to significant stock price fluctuations based on performance relative to market expectations