Corning: Q4 Earnings Snapshot

Published: 2022-01-26 07:20:06 ET GLW

CORNING, N.Y. (AP) _ Corning Inc. (GLW) on Wednesday reported fourth-quarter earnings of $487 million.

On a per-share basis, the Corning, New York-based company said it had net income of 56 cents. Earnings, adjusted for non-recurring gains, were 54 cents per share.

The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 51 cents per share.

The specialty glass maker posted revenue of $3.68 billion in the period. Its adjusted revenue was $3.71 billion, which also topped Street forecasts. Four analysts surveyed by Zacks expected $3.61 billion.

For the current quarter ending in April, Corning expects its per-share earnings to range from 48 cents to 53 cents.

The company said it expects revenue in the range of $3.5 billion to $3.7 billion for the fiscal first quarter. Analysts surveyed by Zacks had expected revenue of $3.47 billion.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on GLW at https://www.zacks.com/ap/GLW