Corning shares rise on Q1 earnings beat, strong guidance

Published 29/04/2025, 12:56
Corning shares rise on Q1 earnings beat, strong guidance

NEW YORK - Corning Incorporated (NYSE:GLW) reported better-than-expected first quarter results and issued upbeat guidance on Tuesday.

The company’s shares gained 1.41% in premarket trading following the release.

The company posted adjusted earnings per share of $0.54, surpassing analyst estimates of $0.51. Revenue came in at $3.68 billion, topping expectations of $3.64 billion and representing a 13% year-over-year increase.

Corning’s Enterprise business, which provides products for Gen AI data centers, saw sales surge 106% YoY. This drove a 46% revenue jump in the Optical Communications segment to $1.36 billion.

"We announced strong first-quarter results that exceeded guidance. Core sales grew 13% year over year and core EPS grew three times faster," said Wendell P. Weeks, chairman and CEO.

For the second quarter, Corning expects core sales of approximately $3.85 billion and adjusted EPS of $0.55 to $0.59, both ahead of analyst projections.

The company noted its guidance factors in a $0.01 to $0.02 impact from current tariffs and $0.03 in temporarily higher costs related to ramping production for Gen AI and solar products.

"We’re well positioned to maintain momentum despite a dynamic external environment because our growth is underpinned by powerful secular trends that are underway today," Weeks added.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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