Corning, the specialty glass, ceramics, and optical fiber company, reported a strong second quarter with sales rising 17% to $4.74 billion, largely propelled by demand related to artificial intelligence.
Despite these positive results, Corning issued a less optimistic sales outlook for the third quarter. The company anticipates core sales growth of approximately 16%, projecting a range of $4.9 billion to $5 billion. This guidance fell slightly short of the $5 billion expected by analysts.
Corning also provided guidance for core earnings per share, an adjusted figure, which is expected to increase by 28%, ranging from 85 cents to 89 cents per share. This aligns with analyst expectations of 85 cents per share.
Source: Wall Street Journal US Business · Summarized by HeadlinesBriefing