The Battle of the Coral Sea,  while tactically a Japanese
victory,  was a strategic triumph for the Allies.

The Japanese achieved this tactical victory by sinking
the Lexington,  Sims and Neosho and damaging the Yorktown
at the cost of Shoho and a few minor combatants lost and
Shokaku damaged.

The Allies achieved a strategic victory,  however, as the
invasion of Port Moresby was thwarted and,  arguably as 
important,  the Japanese 5th Carrier Division was out of 
action for three months due to the damage to the Shokaku
and the depletion of the carrier air groups. Events at
Midway the following month were to prove just how
disastrous for the Japanese this turned out to be.