Corning (GLW) Tops Q2 EPS by 2c

Corning (NYSE: GLW) reported Q2 EPS of $0.42, $0.02 better than the analyst estimate of $0.40. Revenue for the quarter came in at $2.59 billion versus the consensus estimate of $2.54 billion.

In the third quarter, the overall LCD glass market and Corning’s volume are expected to increase by a low single-digit percentage sequentially. Sequential glass price declines should be moderate and similar to the second-quarter sequential decline.

“For the year, we anticipate glass demand will be up by a mid-single digit percentage, in line with the overall market. We expect glass prices to decline 10% or less this year,” Tony Tripeny, senior vice president and chief financial officer, said.

For earnings history and earnings-related data on Corning (GLW) click here.

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