Corning's Profit Surges 60% in 3Q; Company Raises Sales Outlook
23 Ottobre 2018 - 2:32PM
Dow Jones News
By Kimberly Chin
Corning Inc. (GLW) said Tuesday that its third-quarter profit
rose 60% from a year ago, driven in part by sales in its specialty
materials business.
The maker of glass and ceramics said net income reached $625
million, or 67 cents a share, compared with $390 million, or 39
cents a share, from the same period a year earlier. Adjusted
earnings were 51 cents a share, above analysts' estimates of 49
cents a share, according to a Refinitiv poll.
Sales in the third quarter rose to $3.01 billion from a year
earlier, which was in line with analysts' expectations, driven by
its specialty materials segment. The segment's revenue rose 23% for
the quarter, the company said.
Corning said it now expects 2018 sales to exceed $11.3 billion,
whereas previously it had predicted sales would be about $11.3
billion.
Write to Kimberly Chin at kimberly.chin@wsj.com
(END) Dow Jones Newswires
October 23, 2018 08:17 ET (12:17 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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