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Investing.com -- Corning Incorporated (NYSE: GLW) reported third-quarter 2025 financial results that exceeded analyst expectations, but shares fell over 5% following the announcement despite the company’s positive outlook.
The specialty glass and ceramics maker posted adjusted earnings per share of $0.67, beating analyst estimates of $0.66, while revenue reached $4.27 billion, surpassing the consensus forecast of $4.24 billion. Revenue grew 14% YoY from $3.73 billion in the same quarter last year.
For the fourth quarter, Corning provided guidance above Wall Street expectations, projecting revenue of approximately $4.35 billion compared to analyst estimates of $4.26 billion. The company expects adjusted EPS of $0.68 to $0.72, above the consensus of $0.67.
"We delivered another excellent quarter. Year over year, core sales grew 14% to $4.27 billion, and core EPS grew 24% to $0.67," said Wendell P. Weeks, chairman and chief executive officer. "Overall, as we approach the second anniversary of Springboard, the plan has been a tremendous success."
The company’s Optical Communications segment showed particularly strong performance, with Enterprise sales growing 58% YoY, driven by strong adoption of Corning’s new Gen AI products. Overall, the segment’s revenue increased 33% YoY to $1.65 billion.
Corning now expects to reach its Springboard operating margin target of 20% in Q4 2025, a full year ahead of plan. The company’s core operating margin expanded 130 basis points YoY to 19.6% in the third quarter.
The company also highlighted Apple’s recent $2.5 billion commitment to produce 100% of iPhone and Apple Watch cover glass at Corning’s Kentucky facility, which it says creates larger, longer-term growth opportunities.
Following the report, Mizuho analyst John Roberts maintained an Outperform rating on the stock, raising the price target to $97 from $90 per share. Roberts stated that "enterprise sales [are] being driven by both connecting data centers and sales within data centers," while carrier sales "are expected to accelerate near end of 2025 from BEAD rural broadband program."