CORNING, N.Y. (AP) — CORNING, N.Y. (AP) — Corning Inc. (GLW) on Tuesday reported a loss of $117 million in its third quarter.
On a per-share basis, the Corning, New York-based company said it had a loss of 14 cents. Earnings, adjusted for non-recurring costs, were 54 cents per share.
The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 52 cents per share.
The specialty glass maker posted revenue of $3.39 billion in the period. Its adjusted revenue was $3.73 billion, which also beat Street forecasts. Five analysts surveyed by Zacks expected $3.7 billion.
For the current quarter ending in December, Corning expects its per-share earnings to range from 53 cents to 57 cents.
The company said it expects revenue in the range of $3.75 billion for the fiscal fourth quarter.
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