CORNING, N.Y. (AP) — CORNING, N.Y. (AP) — Corning Inc. (GLW) on Tuesday reported first-quarter profit of $371 million.
The Corning, New York-based company said it had profit of 43 cents per share. Earnings, adjusted for non-recurring costs, were 70 cents per share.
The results met Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was also for earnings of 70 cents per share.
The specialty glass maker posted revenue of $4.14 billion in the period. Its adjusted revenue was $4.35 billion, which topped Street forecasts. Three analysts surveyed by Zacks expected $4.27 billion.
For the current quarter ending in June, Corning expects its per-share earnings to range from 73 cents to 77 cents.
The company said it expects revenue in the range of $4.6 billion for the fiscal second quarter.
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