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Corning: 3Q Earnings Snapshot

CORNING, N.Y. (AP) _ Corning Inc. (GLW) on Tuesday reported third-quarter profit of $625 million.

The Corning, New York-based company said it had profit of 67 cents per share. Earnings, adjusted for non-recurring gains, came to 51 cents per share.

The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 48 cents per share.

The specialty glass maker posted revenue of $3.01 billion in the period. Its adjusted revenue was $3.05 billion, which also topped Street forecasts. Three analysts surveyed by Zacks expected $3 billion.

Corning shares have declined roughly 4 percent since the beginning of the year, while the Standard & Poor's 500 index has increased 3 percent. The stock has risen nearly 3 percent in the last 12 months.


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