Robinhood shares gain on Q2 beat, as user and crypto growth accelerate
Investing.com -- Shares of Comet (SWX:COTN) surged 15% following the company's annual general meeting today, where it reported a significant increase in first-quarter sales.
Despite a sequential decline from the fourth quarter, Comet's Q1 sales reached CHF 111 million, marking a 38% rise year over year (YoY) but falling 22% from the CHF 143 million reported in Q4 of the previous year.
The company's order intake for the first quarter was CHF 119 million, down by 4% from CHF 124 million in the last quarter of the previous year, yet up 30% YoY. The book-to-bill ratio, which indicates the relationship between orders received and units shipped and billed, stood at 1.07x during the first quarter.
Despite the decrease in orders compared to the previous quarter, investors seem encouraged by the strong YoY growth in sales and orders. Comet has maintained its financial guidance for 2025, while also noting that it is evaluating the impact of recent tariff measures on its business.
In March, with its fourth-quarter report, Comet had anticipated an acceleration of demand in the second half of 2025, suggesting that the company's performance might be weighted towards the latter part of the year even before considering the effect of tariffs.
The news comes against a backdrop of rising NAND memory spot prices, which continue to climb despite potential negative demand implications from the newly implemented tariffs. The increase in spot prices could suggest a tighter supply-demand balance in the memory market, which may benefit companies like Comet involved in the sector.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.