Corning: Q1 Earnings Snapshot

CORNING, N.Y. (AP) — CORNING, N.Y. (AP) — Corning Inc. (GLW) on Tuesday reported first-quarter profit of $209 million.

On a per-share basis, the Corning, New York-based company said it had net income of 24 cents. Earnings, adjusted for non-recurring costs and costs related to mergers and acquisitions, were 38 cents per share.

The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 36 cents per share.

The specialty glass maker posted revenue of $2.98 billion in the period. Its adjusted revenue was $3.26 billion, also exceeding Street forecasts. Six analysts surveyed by Zacks expected $3.12 billion.

For the current quarter ending in June, Corning expects its per-share earnings to range from 42 cents to 46 cents.

The company said it expects revenue in the range of $3.4 billion for the fiscal second quarter.


This story was generated by Automated Insights ( using data from Zacks Investment Research. Access a Zacks stock report on GLW at

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