Cooper Companies beats estimates on contact lens demand
The California-based firm reported second-quarter revenue of $1.08 billion and adjusted profit of $1.21 per share, surpassing analyst expectations. While contact lens demand remains strong in the Americas, the company lowered its annual revenue forecast due to weakness in the Asia-Pacific region.
Cooper Companies reported second-quarter revenue of $1.08 billion and adjusted profit of $1.21 per share, surpassing analyst estimates of $1.05 billion and $1.10 respectively. The results followed sustained demand for contact lenses, which sent shares up 5% during late evening Thursday. The performance highlights a shift toward premium daily disposable lenses even as Cooper lowered its annual revenue forecast due to regional headwinds.
### Premium Lens Demand Drives Revenue Beat Revenue for the second quarter reached $1.08 billion, exceeding the $1.05 billion average estimate from analysts. The CooperVision segment led this growth with $723.5 million in sales, beating expectations of $710.2 million. This performance reflects a broader industry shift toward premium daily disposable lenses.
