Corning beats 3Q profit expectations, misses revenue forecasts



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CORNING, New York — Corning Inc. (GLW) on Tuesday reported third-quarter earnings of $1.01 billion.

The Corning, New York-based company said it had profit of 72 cents per share. Earnings, adjusted for non-recurring gains, were 40 cents per share.

The results surpassed Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 37 cents per share.

The specialty glass maker posted revenue of $2.54 billion in the period, which missed Street forecasts. Analysts expected $2.61 billion, according to Zacks.

Corning shares have risen almost 6 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed 6 percent. The stock has risen almost 9 percent in the last 12 months.

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This story was generated by Automated Insights using data from Zacks Investment Research. GLW stock research report from Zacks.

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Keywords:Corning,Earnings Report

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