Tactically was a Japanese victory (more tonnage sunk) but strategically the American fleet stopped the Japanese advance in that theater of war (invasion of Port Moresby).
The battle of Coral Sea is not celebrated as it is the Battle of Midway but in my opinion it represents a turning point of naval warfare.
For the first time two fleets engaged each other without seeing one another only using airplanes to hit each other confirming the aircraft carrier as the new capital ship!.
The American fleet suffered heavily in the engagement losing the carrier Lexington and having the other carrier. Yorktown, suffer heavy damages (she will valiantly take part to the Battle of Midway where she will sunk).
The Japanese lost the light carrier Shoho while the assault carrier Shokaku was heavily damaged.
The Japanese probably realized that the previous attack on Pearl Harbor missed exactly the type of ship that at that moment was more dangerous, the carrier.
Also, they started the process the will be emphasized at Midway of losing an incredible amount of good, trained, experienced and irreplaceable pilots of the Imperial Navy.
[the start of the end for USS Lexington]
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