NYSE:GLW - New York Stock Exchange, Inc. - US2193501051 - Common Stock - Currency: USD
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The company will “upgrade” its ‘Springboard’ plan at its upcoming investor event in March. Corning is betting on riding the upward cyclical and secular trends to drive demand for its products.
Corning reported better-than-expected results driven by its Optical Communications segment, but challenges remain in its Environmental Technologies business.
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Demand for optical fiber, which is used to transfer data at high speeds, has been boosted by increased adoption of AI technologies by consumers and enterprises. The $500-billion Stargate project announced by U.S. President Donald Trump is also expected to benefit Corning as its some of its products are expected to be deployed to connect different systems, servers and network equipment. Corning said it expects first-quarter revenue to be $3.60 billion, compared with analysts' expectations of $3.53 billion, data compiled by LSEG showed.
Glass and electronic component manufacturer Corning (NYSE:GLW) missed Wall Street’s revenue expectations in Q4 CY2024, but sales rose 7% year on year to $3.50 billion. On the other hand, next quarter’s outlook exceeded expectations with revenue guided to $3.6 billion at the midpoint, or 2.1% above analysts’ estimates. Its non-GAAP profit of $0.57 per share was 2.2% above analysts’ consensus estimates.
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Building materials giant Owens Corning is trying to complete a consolidation with a 214.53 entry, its record high set last November.
GLW is expected to report revenue growth year over year in the fourth quarter of 2024, backed by healthy traction in several end markets.
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Corning recently shared details on the Gorilla Armor 2 glass incorporated for the Galaxy S25 series and how it stands out from others
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