revenue above 7B. average expected was 7.16b ok, they said above 7b but not the accurate #, so we dont know. EArning is 70%above last year of 525Mthat means 525M+367.5M=892.5M(this year earning) # of shares=912.8M ====earning per share(EPS)= 892.5/912.8=0.98 average estimate was 1.17 that seems to be a 19 cents or 20% miss. please let me know if i am wrong ouch.
i have no position in glw, but do have a small position in jdsu.
from the news release and the calculations, i too have come up with eps at $0.98, much less than the $1.16 eps average that i have looked up.
my question is this? if the analysts expected $7.18 billion in topline revenues and equated that with the $1.16 eps, then why would $7 billion plus revenues as stated in the press release cause such a big difference in the bottom line?
i'm assuming that topline revenues (if already over 7 billion) should hit or exceed the $7.18 billion that has been forecasted. if that is the case, then what is the eps problem?
my guess is either: 1. there are other factors (income sources) that haven't been factored into the equation or 2. glw's profit margin has decreased.