Corning Inc reports results for the quarter ended June 30 - Earnings Summary

• Corning Inc GLW reported quarterly adjusted earnings of 60 cents​​ per share for the quarter ended June 30, higher than the same quarter last year, when the company reported EPS of 47 cents. The mean expectation of eleven analysts for the quarter was for earnings of 57 cents per share. Wall Street expected results to range from 56 cents to 59 cents per share.

• Revenue rose 12.2% to $4.05 billion from a year ago; analysts expected $3.86 billion.

• Corning Inc's reported EPS for the quarter was 54 cents​.

• The company reported quarterly net income of $469 million.

• Corning Inc shares had risen by 5.4% this quarter and gained 16.6% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had risen by about 0.7% in the last three months.​

• In the last 30 days, two analysts negatively revised earnings estimates

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 12 "strong buy" or "buy," 4 "hold" and no "sell" or "strong sell." The average consensus recommendation for the electronic equipment & parts peer group is also "buy"

• Wall Street's median 12-month price target for Corning Inc is $57.00, about 2.8% above its last closing price of $55.41

This summary was machine generated from LSEG data July 29 at 01:31 p.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)