Corning Posts Lower 3Q Profit, Sales
29 Ottobre 2019 - 1:04PM
Dow Jones News
By Dave Sebastian
Corning Inc.'s (GLW) posted lower third-quarter profit as
revenue declined.
For the quarter ended Sept. 30, the glass company posted net
income of $337 million, or 38 cents a share, compared with $625
million, or 67 cents a share, in the comparable quarter last year.
Analysts polled by FactSet were expecting 44 cents a share.
On an adjusted basis, earnings were 44 cents a share, compared
with 51 cents a share a year earlier. Analysts were looking for 39
cents a share.
Revenue for the quarter fell to $2.93 billion from $3 billion in
the prior year.
Corning reported adjusted sales of $2.97 billion, compared with
$3.05 billion last year. Analysts were looking for $2.88
billion.
Write to Dave Sebastian at dave.sebastian@wsj.com
(END) Dow Jones Newswires
October 29, 2019 07:49 ET (11:49 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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