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Corning Stock Drops After Q3 Guidance Miss: CEO Highlights 'New Optical Connectivity Products For Generative AI'
Corning Inc (NYSE:GLW) reported a fiscal second-quarter 2024 core sales growth of 4% year-on-year to $3.60 billion, beating the analyst consensus estimate of $3.55 billion.
The Apple Inc glass supplier's core EPS of $0.47 beat the analyst consensus estimate of $0.46. The stock price plunged after the print.
Display Technologies' sales grew by 9% year over year to $1.01 billion.
Optical Communications sales increased by 4% year over year to $1.11 billion, reflecting record sales in the Enterprise portion of the business, driven by AI-related connectivity solutions.
Specialty Materials sales increased by 18% year over year to $501 million, driven by continued strong ...